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- USD/CHF rises and tests MA (200)Н1
USD/CHF rises and tests MA (200)Н1
The USD/CHF pair is mostly rising today from 0.8770 to 0.8825 after declining yesterday to a 2-week low of 0.8745. On the hourly chart, USD/CHF is testing the moving average line MA (200) H1(0.8810). On the four-hour chart, the pair remains above the MA (200) H4(0.8740). Technically speaking, the resistance level at 0.8830 may keep prices from rising further. If this level is passed, the pair could rise to 0.8850-75. The lower boundary of 0.8745 represents a support level.
⦁ Resistance levels are: 0.8830, 0.8850-75, 0.8920
⦁ Support levels are: 0.8770, 0.8745, 0.8690-0.8700
The main scenario for the pair involves a break of resistance 0.8830 (Aug 14 and 18-21 highs) and could be up to 0.8850-75 (Aug 25 and 30 highs).
The alternative scenario implies a break of the session low of 0.8770 and may be a decline to 0.8745 (Aug 30 low)
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