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- USD/CHF drops to 7-month low
USD/CHF drops to 7-month low
Today, the USD/CHF pair continues to decline and dropped from 0.8590 to a 7-month low of 0.8450. The pair broke through the 0.8575 support, which became the nearest resistance. On the hourly chart, the pair fell below the moving average line MA (200) H1 (0.8780) and on the four-hour chart below MA (200) H4 (0.8905). Technically speaking, the 0.8450 support level is still keeping USD/CHF from further decline. If this level is broken, the pair may fall to 0.8330. The upper limit of 0.8880 represents a strong resistance level.
⦁ Resistance levels are: 0.8575, 0.8780, 0.8880
⦁ Support levels are: отметках: 0.8450, 0.8330, 0.8300
The main scenario for the pair's promotion assumes a breakout of the session low of 0.8450 (Jan 5 low) and may be a decrease to 0.8550 (Dec 28 low).
An alternative scenario implies a breakout of the resistance of 0.8575 (Aug 2 low) and MA (200) H1 (0.8780) may increase to 0.8880 (July 30 high).
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