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- USD/CHF remains below MA (200) Н1
USD/CHF remains below MA (200) Н1
The USD/CHF pair is mostly rising today from 0.8600 to 0.8650 after declining yesterday to a 4.5-month low of 0.8590. On the hourly chart, USD/CHF remains below the H1 MA (200) H1 moving average (0.8710) and on the four-hour chart it remains well below the H4 MA (200) H4 (0.8825). Technically speaking, the 0.8730 resistance level may keep prices from rising further. If this level is passed, the pair could rise towards 0.8785. The lower boundary of 0.8590 represents a strong resistance level.
⦁ Resistance levels are: 0.8710-30, 0.8785, 0.8820
⦁ Support levels are: 0.8590, 0.8550, 0.8500
The main scenario for the pair implies a break of support at 0.8590 (Dec 19 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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