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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF pair is mostly declining from 0.8790 to 0.8720 and is testing the MA (200) H1(0.8750) moving average line on the hourly chart. On the four-hour chart, the pair remains below the MA (200) H4(0.8775). Technically speaking, the 0.8700 support level may keep prices from further declines. The upper boundary of 0.8780 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the existing 0.8700-0.8780 range
⦁ 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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