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- USD/CHF grows and tests MA (200) H1
USD/CHF grows and tests MA (200) H1
Today, the USD/CHF pair is mainly growing in the range of 0.8755-0.8830. The pair on the hourly chart shows an attempt at corrective growth after reaching a local low around 0.8750. The price broke through the MA (200) H1 moving average line (0.8810), which may signal a change in the short-term trend. However, the resistance at 0.8830 remains a key barrier for further growth. In case of consolidation above this mark, a move to 0.8865 is possible. The MACD indicator shows an increase in bullish momentum, which confirms the upward movement. If the price fails to gain a foothold above 0.8830, a pullback back to 0.8750 is possible. The overall trend remains bearish, but the current upward movement may develop into a deeper correction.
Resistance levels are: 0.8830, 0.8865, 0.8925
Support levels are: 0.8750, 0.8735, 0.8700
The main scenario for the pair's advance suggests a decline to 0.8750 (March 18 low) and then, perhaps, to 0.8735 (Dec 6 low)
An alternative scenario implies a breakout of the session high of 0.8830 and there may be an increase to 0.8865 (March 14 high)
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