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- The USD/CHF is still testing the MA 200 H1 support
The USD/CHF is still testing the MA 200 H1 support
Yesterday, the USD/CHF traded mixed in the range of 0.8845-0.8890 and closed the day without significant changes. Today it also traded in a narrow range of 0.8855-65, remaining close to yesterday's closing price. On the hourly chart, USD/CHF is testing the support - the MA (200) H1 moving average line (0.8865). 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, may be is necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at: 0.8885-90, 0.8915, 0.8955-65
- Support levels are at: 0.8845, 0.8820-25, 0.8800
Probably, the main scenario is continued growth to 0.8885 (high of the American session on Nov 26).
The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to 0.8800 (Nov 19 low).
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