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- USD/CHF fell to the lows of October 2011
USD/CHF fell to the lows of October 2011
Today, the USD/CHF pair continues yesterday's decline and fell from Chf0.8675 to the October 2011 low of Chf0.8615. On the hourly chart, the pair is trading below the MA (200) H1 moving average line (Chf0.8885) and on the four-hour chart below the MA (200) H4 (Chf0.8980). In this situation, the scenario of further decline in USD/CHF pair is likely. Finding a sell position may be a wise decision for those who want to benefit from a stronger Swiss Franc.
⦁ Resistance levels are: Chf0.8675, Chf0.8800, Chf0.8920
⦁ Support levels are: Chf0.8570, Chf0.8500, Chf0.8400
The main scenario for the pair suggests a decline to Chf0.8570 (October 27’ 2011 low) and then, maybe, to the psychological level of Chf0.8500.
The alternative scenario assumes a break of the session high of Chf0.8675 and maybe a rise to Chf0.8800 (July 12 high).
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