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- USD/CHF is trading near 3-week high.
USD/CHF is trading near 3-week high.
Today, the USD/CHF pair is trading in the range of 0.9075-0.9110 - near the 3-week high reached yesterday. The pair broke through the 0.9050 resistance, which was the nearest support. On the hourly chart, the pair moved above the moving average line MA (200) H1 (0.8985) and on the four-hour chart above the MA (200) H4 (0.90500). Technically speaking, the resistance level at 0.9125 may keep prices from rising further. If this level is passed, the pair could rise to 0.9090. The lower boundary of 0.9010 represents a strong support level.
⦁ Resistance levels are: 0.9110-25, 0.9185, 0.9245
⦁ Support levels are: 0.9050, 0.9010, 0.8965
The main scenario for the pair implies a break of resistance at 0.9110-25 (Oct 9 high, session high) and maybe a rise to 0.9185 (Oct 5 high)
The alternative scenario suggests a decline to 0.9050 (Oct 30 high) and then maybe to 0.9010 (Oct 30 low).
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