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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF pair is trading in the 0.8740-60 range, having retreated from the 4-month low of 0.8670 recorded on Monday. On the hourly chart, USD/CHF is testing the strength of the moving average line MA (200) H1 (0.8760) and remains below the MA (200) H4 (0.8910) on the four-hour chart. Technically speaking, the 0.8660-70 support level may keep prices from further declines. If this level is passed, the pair could fall towards 0.8550. The upper boundary of 0.8875 represents a strong resistance level.
⦁ Resistance levels are: 0.8760-70, 0.8830, 0.8875
⦁ Support levels are: 0.8715, 0.8660-70, 0.8550
The main scenario for the pair implies a break of the support at 0.8715 (Dec 5 low) and may be a decline to 0.8660-70 (July 28 and Dec 4 low)
The alternative scenario implies a break of resistance at 0.8760-70-85 (Nov 30 high, MA (200) H1) and a possible rise to 0.8830 (Nov 27 high).
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