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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF pair is mostly rising from 0.8720 to 0.8770, regaining almost all the positions lost during yesterday's US trading. On the hourly chart, the pair is testing the moving average line of the MA (200) H1(0.8725). On the four-hour chart, the pair is trading below the MA (200) H4(0.8780). Technically speaking, the resistance level at 0.8805 may keep prices from rising further. The lower boundary of 0.8660 represents a strong support level. The most probable range of the pair's movement for today may be hidden within the existing range of 0.8700-0.8805
⦁ Resistance levels are: 0.8780, 0.8805, 0.8920
⦁ Support levels are: 0.8700, 0.8660, 0.8550
The main scenario for the pair implies a decline to 0.8700 (August 2 low) and then, maybe, to 0.8660 (July 28 low).
The alternative scenario implies a break of resistance at 0.8780 (August 4 high) and maybe a rise to 0.8805 (August 2 high).
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