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- USD/CHF is testing the MA (200) H1.
USD/CHF is testing the MA (200) H1.
Today, the USD/CHF pair is trading in the range of 0.8475-0.8510 and is testing the MA (200) H1 moving average line (0.8494) on the hourly chart. It should be noted that the pair hit an 8-year low of 0.8330 last week. The pair broke through 0.8450 resistance, which became the nearest support. On the four-hour chart, USD/CHF remains well below the H4 MA (200) (0.8710). Technically speaking, the 0.8580 resistance level could keep prices from rising further. If this level is passed, the pair could rise towards 0.8650. The lower boundary of 0.8330 represents a strong support level.
⦁ Resistance levels are: 0.8555-80, 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).
An alternative scenario suggests a break of 0.8555-80 resistance (Dec 26 and Jan 3 highs) and there could be a rise to 0.8650 (Dec 20 high).
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