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- The USD/CHF rose
The USD/CHF rose
On Friday, the USD/CHF traded mixed in the range of 0.8735-0.8795 and closed the day without significant changes. Today it rose slightly, rising to 0.8800. On the hourly chart, USD/CHF is still trading below the moving average line MA (200) H1 (0.8830). On the four-hour chart, the situation is similar. 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 sale at the end of the correction.
- Resistance levels are at: 0.8805, 0.8850, 0.8875
- Support levels are at: 0.8775, 0.8735, 0.8700
Probably, the main scenario is a resumption of decline to 0.8775 (session low).
The alternative scenario is consolidation above the MA 200 H1 level, followed by growth to 0.8885 (Dec 3 high).
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