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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 declining from 0.8830 to 0.8790, but remains above the middle MA (200) H1(0.8790) line on the hourly chart. On the four-hour chart, the pair is trading above the MA (200) H4(0.8735). Technically speaking, the 0.8760-75 support levels may keep prices from further declines. If these lines are broken, the pair could fall towards 0.8735. The upper boundary of 0.8830 represents a resistance level. The most probable range of the pair's movement for today may be hidden within the existing 0.8760-0.8830 range
⦁ Resistance levels are: 0.8830, 0.8920, 0.9000
⦁ Support levels are: 0.8760-75, 0.8735, 0.8690-0.8700
The main scenario for the pair still implies a rise to 0.8830 (Aug 14 and 18 session highs) and then maybe to 0.8920 (July 10 high)
The alternative scenario implies a break of 0.8760-75 (Aug 17-18 lows) and maybe a decline to 0.8735 (Aug 11 low).
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