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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 0.8485-0.8540 and is testing the moving average line MA (200) H1(0.8485) on the hourly chart. Note that last week the pair hit an 8-year low of 0.8330. On the four-hour chart, USD/CHF remains well below the MA (200) H4 (0.8710). Technically speaking, the resistance level at 0.8580 may 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: 0.8475, 0.8330, 0.8300
The main scenario of the pair's advancement implies a break of the support at 0.8475 (Jan 4 low) and there may be a decline to 0.8330 (Dec 28 low)
An alternative scenario suggests a break of resistance 0.8555-80 (Dec 26 and Jan 3 highs) and there could be a rise to 0.8650 (Dec 20 high).
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