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- The USD/CHF continued Friday's decline
The USD/CHF continued Friday's decline
On Friday, the USD/CHF traded lower and closed the day in the red near 0.8475. Today it also fell slightly, falling to 0.8455. On the hourly chart, USD/CHF is still trading below the MA (200) H1 moving average line (0.8600). The situation is similar on the four-hour chart. 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 for the formation of a correction.
- Resistance levels are at 0.8500, 0.8540, 0.8555-60
- Support levels are at 0.8455, 0.8435, 0.8355
Probably, the main scenario is a continuation of the decline to 0.8455 (session low).
The alternative scenario is a final consolidation above the MA 200 H1 level, followed by growth to 0.8750 (Aug 15 high).
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