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- USD/CHF is trading near a 11-week low.
USD/CHF is trading near a 11-week low.
Today, the USD/CHF pair is trading in the 0.8825-60 range - near the 10-week low of 0.8820 recorded yesterday. On the hourly chart, USD/CHF fell below the MA (200) H1 moving average line (0.8910) and on the four-hour chart below the MA (200) H4 (0.8985). Technically speaking, the 0.8820 support level may keep prices from further declines. If this level is passed, the pair could fall to 0.8795. The upper boundary of 0.8900 represents a strong resistance level.
⦁ Resistance levels are: 0.8900-10, 0.9025, 0.9050
⦁ Support levels are: 0.8820, 0.8795, 0.8745
The main scenario for the pair implies a break of support at 0.8820 (Nov 21 low) and may be a decline to 0.8795 (Sept 1 low).
The alternative scenario implies a break of resistance at 0.8900-10 (Nov 16 high, MA (200) H1) may be a rise to 0.9025 (Nov 14 high).
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