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- USD/CHF is testing the MA (200) H1.
USD/CHF is testing the MA (200) H1.
Today, the USD/CHF pair is trading in the 0.8740-70 range of last week's rise to the 2-week high of 0.8820. On the hourly chart, USD/CHF is testing the MA (200) H1 moving average line (0.8750) but remains below the MA (200) H4 (0.8880) on the four-hour chart. Technically speaking, the 0.8715 support level may keep prices from further declines. If this level is passed, the pair could fall to 0.8670. The upper boundary of 0.8820 represents a strong resistance level.
⦁ Resistance levels are: 0.8785, 0.8820, 0.8850
⦁ Support levels are: 0.8715, 0.8670, 0.8550
The main scenario for the pair implies a break of the support at 0.8715 (Dec 5 low) and a possible decline to 0.8670 (Dec 4 low)
An alternative scenario suggests a break of 0.8785 resistance (Dec 12 high) and there could be a rise to 0.8820 (Nov 28 and Dec 8 highs).
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