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- USD/CHF remains below MA (200) H1
USD/CHF remains below MA (200) H1
At the moment, the USD/CHF pair is testing the level of 0.8815, after an unsuccessful attempt to break through the resistance of 0.8840. The pair remains in a steady downtrend, which is confirmed by the price's location below the MA (200) H1 moving average (0.8880). The MACD histogram shows an upward trend, but it begins to decline, which may signal a possible weakening of the upward pullback. The trend remains downward, and a weakened dollar against the franc indicates a possible continuation of the decline. However, in the case of a correction, it is important to monitor the 0.8840 resistance - its breakdown may lead to short-term growth. If the price continues to decline, the key support level is at 0.8760.
Resistance levels are: 0.8840, 0.8880, 0.8925
Support levels are: 0.8760, 0.8735, 0.8700
The main scenario for the pair's advance suggests a decline to 0.8760 (March 10 low) and there may be a decline to 0.8735 (Dec 6 low)
An alternative scenario implies a breakout of the session high of 0.8880, an increase to MA (200) H1 (0.8880) and then, perhaps, to 0.8925 (March 6 high)
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