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- The USD/CHF is trading near the September lows
The USD/CHF is trading near the September lows
Yesterday, the USD/CHF traded lower and closed the day in the red zone around the price of 0.8835. Today the pair was trading in a narrow range of 0.8830-35, remaining close to the September lows. On the hourly chart, USD/CHF is still trading below the moving average line MA (200) H1 (0.8915). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistances levels are at: 0.8855, 0.8890-00, 0.8930
- Support levels are at: 0.8820, 0.8795, 0.8770
Probably, the main scenario is a continued decline to 0.8820 (Nov 21 low).
The alternative scenario is a final consolidation above the MA 200 H1 level, followed by growth to 0.9050 (Nov 13 high).
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