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- USD/CHF tests support for MA (200) H1
USD/CHF tests support for MA (200) H1
Yesterday, the USD/CHF pair mostly declined from 0.9105 to 0.9010, but during the American trading it regained some positions and closed trading near the price of 0.9035. Today, the pair started trading in a narrow range of 0.9035-60, remaining close to Monday's closing price. On the hourly chart, USD/CHF is testing the MA (200) H1 (0.9040) moving average line, but on the four-hour chart it remains above MA (200) H4 (0.8910). Based on the above, it is probably worth sticking to the northern direction in trading and until the pair is fixed below the MA 200 H1, it is necessary to look for entry points to buy at the end of the correction.
Resistance levels are at: 0.9105, 0.9140-60, 0.9225
Support levels are at: 0.9010, 0.8980, 0.8900-10
The main scenario for the pair's advance suggests an increase to 0.9105 (Jan 6 high) and then, perhaps, to 0.9140-60 (May 22-27 and Jan 2 highs)
An alternative scenario implies a breakout of the support 0.9010 (Jan 6 low) and there may be a decline to 0.8980 (Dec 26 low).
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