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- The USD/CHF is trading below MA 200 H1 again
The USD/CHF is trading below MA 200 H1 again
Yesterday, USD/CHF was trading lower and closed the day in the red near 0.8470. Today it traded in a narrow range of 0.8465-75, remaining near yesterday's closing price. On the hourly chart, USD/CHF is still trading below the MA (200) H1 moving average line (0.8475). 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 for selling to form a correction.
- Resistance levels are at: 0.8505-15, 0.8550-55, 0.8605
- Support levels are at: 0.8450-55, 0.8425, 0.8390
Probably, the main scenario is a continuation of the decline to 0.8455 (Sep 23 low).
The alternative scenario is a final consolidation above the MA 200 H1 level, followed by growth to 0.8550 (Sep 12 high).
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