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- The USD/CHF remains above MA 200 H1
The USD/CHF remains above MA 200 H1
On Friday, the USD/CHF traded in different directions in the range of 0.8790-0.8835 and closed the day without significant changes. Today the pair was trading in a narrow range of 0.8795-15, remaining close to Friday's closing price. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8785). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above MA 200 H1, you may be to look for entry points to buy at the end of the correction.
- Resistances levels are at: 0.8835, 0.8855, 0.8885
- Support levels are at: 0.8785, 0.8755, 0.8725
Probably, the main scenario is continued growth to 0.8835 (Feb 16 high).
The alternative scenario is a final consolidation below the MA 200 H1 level, followed by a decline to 0.8690 (Feb 7 low).
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