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- Technical Analysis
- USD/CHF is trading near a 2-month high.
USD/CHF is trading near a 2-month high.
Today, the USD/CHF pair is trading in the 0.8725-60 range - near the 2-week high of 0.8760 reached yesterday. On the hourly chart, the pair moved above the MA (200) H1 moving average line (0.8670) and on the four-hour chart above the MA (200) H4 (0.8590). Technically speaking, the resistance level at 0.8760 may keep prices from rising further. If this level is passed, the pair could rise to 0.8785. The lower boundary of 0.8670 represents a strong support level.
It should also be noted that a bearish divergence on the MACD indicator was formed on the hourly chart, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: 0.8760, 0.8785, 0.8820
⦁ Support levels are: отметках:0.8725, 0.8670-90, 0.8550
The main scenario for the pair implies a break of resistance at 0.8760 (Feb 8 high, session high) and may be a rise to 0.8785 (Dec 14 high)
The alternative scenario implies a break of 0.8725 support (Feb 8 low) and a possible decline to 0.8670-90 (Feb 7 low, MA (200) H1).
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