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- USD/CHF is trading near 6-week highs
USD/CHF is trading near 6-week highs
Today, the USD/CHF pair is mostly rising in the 0.8825-55 range - slightly below the 6-week high of 0.8875 reached last week. On the hourly chart, USD/CHF is settling above the MA (200) H1(0.8810) moving average line. On the four-hour chart, the pair is trading above the MA (200) H4(0.8725). Technically speaking, the resistance level at 0.8875 may keep prices from rising further. If this level is broken, the pair could rise to 0.8920. The lower boundary of 0.8760 represents a resistance level.
⦁ Resistance levels are: 0.8875, 0.8920, 0.9000
⦁ Support levels are: 0.8810-20, 0.8760, 0.8735
The main scenario for the pair implies a break of the resistance at 0.8875 (Aug 25 high) and maybe a rise to 0.8920 (July 10 high).
The alternative scenario suggests a break of support at 0.8810-20 (Aug 28 low, MA (200) H1) and there may be a decline to 0.8760 (Aug 24 low)
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