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- USD/CHF is trading near a 6-week low.
USD/CHF is trading near a 6-week low.
Today, the USD/CHF pair is mostly rising in the 0.8920-65 range after declining yesterday to a new 6-week low of 0.8890. On the hourly chart, the pair may test the strength of the MA (200) H1 moving average line (0.8970). On the four-hour chart, the situation is similar. Technically speaking, the support level at 0.8890 may keep prices from further declines. If this level is passed, the pair may fall to 0.8830. The upper boundary of 0.9010 represents a strong resistance level.
⦁ Resistance levels are: 0.8970, 0.9010, 0.9040
⦁ Support levels are: 0.8920, 0.8890, 0.8830
The main scenario for the pair implies a break of the session low of 0.8920 and may be a decline to 0.8890 (Oct 24 low).
The alternative scenario implies a break of the MA (200) H1 (0.8970) and may be a rise to 0.9010 (Oct 18 high).
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