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- USD/CHF declines but stays above MA (200) Н1
USD/CHF declines but stays above MA (200) Н1
Today, the USD/CHF pair is mostly rising from 0.8770 to 0.8810, pushing away from the MA (200) H1(0.8770) moving average line. On the four-hour chart, the pair is trading above the MA (200) H4(0.8720). Technically speaking, resistance levels at 0.8815-30 may keep prices from rising further. If these lines are broken, the pair could move up to 0.8920. The lower boundary of 0.8760 represents a support level. The pair's most likely range of movement for today may be hidden within the existing 0.8760-0.8830 range.
⦁ Resistance levels are: 0.8815-30, 0.8920, 0.9000
⦁ Support levels are: 0.8760-70, 0.8735, 0.8690-0.8700
The main scenario for the pair still implies a rise to 0.8815-30 (Aug 14 and 16 highs) and then maybe to 0.8920 (July 10 high)
The alternative scenario implies a break of 0.8760-70 (Aug 17 low, session low, MA (200) Н1) and maybe a decline to 0.8735 (Aug 11 low).
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