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- USD/CHF remains under selling pressure
USD/CHF remains under selling pressure
Today, the USD/CHF pair is mainly declining from 0.8850 to 0.8815. On the hourly chart, the pair remains under selling pressure and is testing the MA (200) H1 moving average line (0.8815). The nearest resistance is located in the area of 0.8850, and support is at 0.8795. The MACD indicator shows a decrease, which confirms the weakness of buyers. If the price fails to gain a foothold above 0.8850, a further decline towards 0.8795 and 0.8750 is likely. In the event of an upward breakdown of the 0.8850 resistance, a move to 0.8865 may follow, but for now the overall direction remains bearish.
Resistance levels are: 0.8850-65, 0.8925, 0.8970
Support levels are: 0.8795, 0.8750, 0.8735
The main scenario for the pair's advance suggests a breakout of the support 0.8795 (March 21 low) and a possible decline to 0.8750 (March 18 low)
An alternative scenario implies a breakout of the 0.8850-65 area (March 14 high, session high) and there may be an increase to 0.8925 (March 6 high)
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