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- USD/CHF is testing the MA (200)Н1.
USD/CHF is testing the MA (200)Н1.
The USD/CHF pair is mostly rising from 0.8485 to 0.8555 today, further retreating from the 8-year low of 0.8330 reached last week. The pair broke through the 0.8450 resistance, which was the nearest support. On the hourly chart, USD/CHF is testing the MA (200) H1 (0.8510) moving average line, but remains well below the MA (200) H4 (0.8705) on the four-hour chart. Technically speaking, the 0.8580 resistance level may keep prices from rising further. If this level is passed, the pair could rise to 0.8650. The lower boundary of 0.8330 represents a strong support level.
⦁ Resistance levels are: 0.8580, 0.8650, 0.8710-30
⦁ Support levels are: 0.8450, 0.8330, 0.8300
The main scenario for the pair implies a break of the support at 0.8450 (Dec 28-29 high) and may be a decline to 0.8330 (Dec 28 low).
The alternative scenario implies a break of resistance at 0.8580 (Dec 26 high) and may be a rise to 0.8650 (Dec 20 high).
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