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- USD/CHF trades around the weekly low.
USD/CHF trades around the weekly low.
Today, the USD/CHF pair trades in the range of 0.8955-95 - about the weekly low. On the hour chart, the pair dropped below the line of moving average MA (200) H1 (0.9020) and on the four-hour chart below MA (200) H4 (0.9050). Technically speaking, the support level of 0.8920 can keep prices from falling further. If this level is passed, the pair may fall to 0.8890. The upper bound of 0.9075 is a strong resistance level.
⦁ Resistance levels are: 0.9020, 0.9075, 0.9110-25
⦁ Support levels are: 0.8955, 0.8920, 0.8890
The main scenario of the pair’s advance implies an increase to MA (200) H1 (0.9020) and so, maybe, to 0.9075 (Nov 3 high).
An alternative scenario assumes a breakthrough of the session minimum of 0.8955 and may be a decrease to 0.8920 (Oct 25 low).
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