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- USD/CHF fell below the MA (200) H1.
USD/CHF fell below the MA (200) H1.
Today, the USD/CHF pair is trading in a wide range of 0.8660-0.8730, having reached a 10-day low early today. On the hourly chart, USD/CHF dipped slightly below the H1 MA (200) H1 moving average (0.8750) and remains well below the H4 MA (200) H4 (0.8870) on the four-hour chart. Technically speaking, the 0.8660 support level may keep prices from further declines. If this level is passed, the pair could fall towards 0.8550. The upper boundary of 0.8820 represents a strong resistance level.
⦁ Resistance levels are:0.8730-50, 0.8785, 0.8820
⦁ Support levels are: 0.8665, 0.8550, 0.8500
The main scenario for the pair implies a break of the support at 0.8665 (Dec 4 low, session low) and may be a decline to 0.8550 (July 27 low)
The alternative scenario implies a breakout of the session high 0.8730 and MA (200) H1 (0.8750) and may be a rise to 0.8785 (Dec 12 high).
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