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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF hourly chart continues its downward trend: the pair is mainly declining from 0.8855 to 0.8815 and is testing the MA (200) H1 moving average line (0.8830). After an attempt at growth in mid-March, the price resumed its decline. The price is trading lower, which confirms the bearish sentiment. The MACD histogram is in the negative zone, indicating a continued decline. The nearest support of 0.8800 may act as a point for a possible correction, however, a breakdown of this level will open the way to 0.8760. To change the trend, it is necessary to consolidate above 0.8865.
Resistance levels are: 0.8865, 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 0.8865 (March 14 high) and there may be an increase to 0.8925 (March 6 high)
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