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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
At the moment, the USD/CHF pair is trading in the range of 0.8820-55. There is a downward trend on the hourly chart, as the price has not consolidated above the MA (200) H1 moving average line (0.8840), which acts as a dynamic resistance. In recent hours, the pair has been demonstrating an attempt to grow, testing the level of 0.8855, however, to confirm the reversal, it needs to gain a firm foothold above this mark and the moving average. The key resistance is located at 0.8925, the breakdown of which may strengthen the upward movement. The nearest support levels are at 0.8800 and 0.8760, where new purchases are possible. The MACD indicator shows a weakening of the downward momentum, but so far there are no signals for a trend reversal. If the price fails to overcome 0.8855, a return to decline is possible.
Resistance levels are: 0.8855, 0.8925, 0.8970
Support levels are: 0.8800, 0.8760, 0.8735
The main scenario for the pair's advance assumes a breakout of the support 0.8800 (March 12 low) and there may be a decline to 0.8760 (March 10 low).
The alternative scenario implies a breakout of the resistance 0.8855 (March 12 high, MA (200) H1) and there may be an increase to 0.8925 (March 6 high)
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