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- USD/CHF is trading near MA (200) H1
USD/CHF is trading near MA (200) H1
Today, the USD/CHF pair is trading in the range of 0.8825-40. There is an attempt to recover from a prolonged downtrend on the hourly chart. The price is trading near the MA (200) H1 moving average line (0.8815), which indicates uncertainty among market participants. The 0.8865 level acts as the nearest resistance, its breakdown may open the way to 0.8925. Support is located at 0.8795, below which the downward movement is likely to resume. The MACD indicator shows weak bullish dynamics, but the lack of pronounced momentum indicates possible consolidation. In case of consolidation above 0.8865, the bulls can take the initiative, and the breakdown of 0.8795 will strengthen the sellers' positions.
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 area 0.8850-65 (March 14 and 25 highs) and there may be an increase to 0.8925 (March 6 high)
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