Technical Analysis
18.12.2023, 12:58

USD/CHF remains below the MA (200) Н1.

Today, the USD/CHF pair is mostly declining in the 0.8670-0.8710 range after dropping last week to a 4.5-month low of 0.8630. On the hourly chart, USD/CHF has moved below the H1 (200) MA (0.8740) moving average and remains well below the H4 (200) MA (0.8850) on the four-hour chart. Technically speaking, the 0.8630 support level may keep prices from further declines. If this level is passed, the pair could fall towards 0.8550. The upper boundary of 0.8785 represents a strong resistance level.


Resistance levels are: 0.8730-40, 0.8785, 0.8820


Support levels are: 0.8630, 0.8550, 0.8500


The main scenario for the pair implies a break of support at 0.8630 (Dec 14 low) and may be a decline to 0.8550 (July 27 low)

The alternative scenario implies a break of resistance at 0.8730-40 (Dec 14 high, MA (200) H1) and may be a rise to 0.8785 (Dec 12 high).

Quotes
Symbol Bid Ask Time
AUDUSD 0.62843 0.62849 23:55:00
EURUSD 1.04145 1.04159 23:54:00
GBPUSD 1.23515 1.23527 23:55:00
NZDUSD 0.56743 0.56755 23:55:00
USDCAD 1.43814 1.43831 23:55:00
USDCHF 0.90737 0.9075 23:55:00
USDJPY 156.052 156.066 23:55:00
XAGEUR 29.201 29.263 23:59:30
XAGUSD 30.434 30.466 23:59:30
XAUUSD 2754.3 2755.13 23:59:30

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