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- The USD/CHF is trading near a 3.5-month high
The USD/CHF is trading near a 3.5-month high
Yesterday, USD/CHF traded higher and closed the day in the positive territory near 0.8815. Today it traded in the range of 0.8805-25, remaining near a 3.5-month high. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8720). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 0.8835, 0.8865-75, 0.8920
- Support levels are at: 0.8800, 0.8780, 0.8765
Probably, the main scenario is continued growth to 0.8835 (Nov 12 high).
The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to 0.8615 (Nov 4 low).
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