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- The USD/CHF is testing the resistance of MA 200 H1
The USD/CHF is testing the resistance of MA 200 H1
Yesterday, the USD/CHF traded lower and closed the day in the red zone around the price of 0.8945. Today it was trading in a narrow range of 0.8935-50, remaining close to yesterday's closing price. On the hourly chart, USD/CHF is testing the strength of resistance - the moving average line MA (200) H1 (0.8950). On the four-hour chart, the pair still remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
- Resistances levels are at: 0.8980-90, 0.9020-35, 0.9070-75
- Support levels are at: 0.8880-90, 0.8840-45, 0.8820-25
Probably, the main scenario is a resumption of the fall to 0.8895 (Jun 12 low).
The alternative scenario is a final consolidation above the level of MA 200 H1, with subsequent growth to 0.9035 (Jun 3 high).
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