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- The USD/CHF continued its decline yesterday
The USD/CHF continued its decline yesterday
Yesterday, the USD/CHF traded lower and closed the day in the red zone around the price of 0.9105. Today it also fell slightly, dropping to 0.9090. On the hourly chart, USD/CHF is testing the strength of support - the moving average line MA (200) H1 (0.9135). On the four-hour chart, the pair still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above MA 200 H1, may be need to look for entry points to buy at the end of the correction.
- Resistances levels are at: 0.9135, 0.9170, 0.9205
- Support levels are at: 0.9090, 0.9070, 0.9110
Probably, the main scenario is a resumption of growth to 0.9135 (the high of the American session on May 2).
The alternative scenario is a final consolidation below the MA 200 H1 level, followed by a decline to 0.9010 (Apr 19 low).
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