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- Technical Analysis
- USD/CHF has fallen to a near 5-month low.
USD/CHF has fallen to a near 5-month low.
Today, the USD/CHF pair is mostly down from 0.8635 to 0.8585, hitting a near 5-month low. On the hourly chart, USD/CHF has dipped below the H1 (200) MA (0.8695) moving average and remains well below the H4 (200) MA (0.8820) on the four-hour chart. Technically speaking, the 0.8550 support level may keep prices from further declines. If this level is passed, the pair could fall towards 0.8500. The upper boundary of 0.8730 represents a strong support level.
⦁ Resistance levels are: 0.8650, 0.8710-30, 0.8785
⦁ Support levels are: 0.8550, 0.8500, 0.8400
The main scenario for the pair implies a break of support at 0.8550 (July 27 low) and may be a decline to the psychological level of 0.8500.
The alternative scenario implies a break of resistance at 0.8650 (Dec 20 high) and may be a rise to 0.8710-30 (Dec 14 and 18 highs).
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