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- The USD/CHF is trading below MA 200 H1 again
The USD/CHF is trading below MA 200 H1 again
Yesterday, the USD/CHF was trading lower and closed the day in the red zone near 0.8805. Today, it has risen slightly, rising to 0.8815. On the hourly chart, USD/CHF is still trading below the MA (200) H1 moving average line (0.8825). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.
- Resistance levels are at: 0.8835, 0.8865-70, 0.8925
- Support levels are at: 0.8800, 0.8780, 0.8760
Probably, the main scenario is a continuation of the decline to 0.8800 (Mar 17 low).
An alternative scenario is a final consolidation above the MA 200 H1 level, followed by a rise to 0.8925 (Mar 6 high).
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