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- The USD/CHF remains above MA 200 H1
The USD/CHF remains above MA 200 H1
Yesterday, the USD/CHF traded higher and closed the day in the positive territory near 0.9005. Today, on the contrary, the pair fell slightly, dropping to 0.8995. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8885). The situation is similar on the four-hour chart. 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: 0.9020, 0.9040-50, 0.9070
- Support levels are at: 0.8975, 0.8920, 0.8900
Probably, the main scenario is continued growth to 0.9020 (session high).
The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to 0.8760 (Dec 9 low).
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