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- The USD/CHF is testing support MA 200 H1
The USD/CHF is testing support MA 200 H1
Yesterday, the USD/CHF was trading lower and closed the day in the red zone near the price of 0.8825. Today it traded in the range of 0.8815-35, remaining near yesterday's closing price. On the hourly chart, USD/CHF is testing support - the moving average line MA (200) H1 (0.8825) for strength. On the four-hour chart, the pair is still above the MA 200 H4 line. 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 for buying at the end of the correction.
- Resistance levels are at: 0.8845, 0.8880-85, 0.8915
- Support levels are at: 0.8800, 0.8780, 0.8765
Probably, the main scenario is continued growth to 0.8845 (Nov 19 high).
The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to 0.8700 (Nov 8 low).
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