- Analytics
- Market analysis
- Technical Analysis
- USD/CHF is in a downtrend.
USD/CHF is in a downtrend.
Today, the USD/CHF pair continued yesterday's decline and dropped from 0.8970 to an almost 3-month low of 0.8870. The price is confidently trading below the MA (200) H1 moving average line (0.8980), which confirms the predominance of bearish sentiment. The 0.8910 support level has been broken, which increases the selling pressure. The MACD histogram is in the negative zone and continues to decline, indicating an increase in the downward momentum. The red bars are increasing, which confirms the selling pressure. USD/CHF continues its downward movement with a strong bearish momentum. Consolidation below 0.8910 opens the way for further decline. If a pullback follows, the pair may rise to 0.8910 and then to 0.8980.
Resistance levels are: 0.8910, 0.8980, 0.9040-55
Support levels are: 0.8810, 0.8735, 0.8700
The main scenario for the pair's advance suggests a decline to 0.9910 (Dec 11 low)
An alternative scenario implies an increase to 0.8910 (Feb 25 low) and then, maybe, to MA (200) H1 (0.8980)
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