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- USD/CHF fell slightly below the MA (200) H1
USD/CHF fell slightly below the MA (200) H1
Today the USD/CHF pair is trading in the 0.8780-0.8805 range after declining yesterday from 0.8860 to 0.8775. On the hourly chart, USD/CHF fell slightly below the MA (200) H1 moving average line(0.8810). On the four-hour chart, the pair remains above the MA (200) H4(0.8735). Technically speaking, the 0.8760-75 support levels may keep prices from further declines. If they are passed, the pair could fall to 0.8735. The upper boundary of 0.8875 represents a resistance level.
⦁ Resistance levels are: 0.8810, 0.8860-75, 0.8920
⦁ Support levels are: 0.8760-75, 0.8735, 0.8690-0.8700
The main scenario for the pair implies a break of the MA (200) H1(0.8810) and may be a rise to 0.8860-75 (Aug 25 and 29 highs).
The alternative scenario implies a break of the support at 0.8760-75 (Aug 24 and 29 lows) and a decline to 0.8735 (Aug 11 low).
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