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- USD/CHF declines but stays above the MA (200) H1 line
USD/CHF declines but stays above the MA (200) H1 line
Today, the USD/CHF pair is mostly declining from 0.8810 to 0.8770, but remains above the MA (200) H1 moving average line(0.8765) on the hourly chart. On the four-hour chart, the situation is similar. Technically speaking, the 0.8735-45 support levels may keep prices from further declines. If these lines are broken, the pair could fall to 0.8690-0.8700. The upper boundary of 0.8830 represents a resistance level.
⦁ Resistance levels are: 0.8815-30, 0.8920, 0.9000
⦁ Support levels are: 0.8735-45, 0.8690-0.8700, 0.8660.
The main scenario for the pair still implies a rise to 0.8815-30 (Aug14 and 16 highs) and then maybe to 0.8920 (July 10 high)
The alternative scenario implies a break of 0.8735-45 (Aug 11 and 15 lows) and maybe a decline to 0.8690-0.8700 (Aug 4 and 8 lows).
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