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- USD/CHF remains below the MA (200) H1.
USD/CHF remains below the MA (200) H1.
Today, the USD/CHF pair is mostly declining in the 0.8650-75 range after dropping last week to a 4.5-month low of 0.8630. On the hourly chart, USD/CHF has dipped below the H1 MA (200) H1 moving average (0.8730) and remains well below the H4 MA (200) H4 (0.8835) 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: 0.8710-30, 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 14-18 highs, MA (200) H1) and may be a rise to 0.8785 (Dec 12 high).
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