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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 a narrow range of 0.8820-50, being near the level of 0.8830. The global trend remains downward, as the price is testing the MA (200) moving average line (0.8815) and acts as a dynamic support, the breakdown of which may lead to a decline to the area of 0.8795. The resistance is in the 0.8850 zone, overcoming it will open the way to 0.8865 and above. The MACD indicator shows weak activity, which indicates a possible continuation of consolidation in the current range.
Resistance levels are: 0.8850-65, 0.8925, 0.8970
Support levels are: 0.8815-20, 0.8795, 0.8750
The main scenario for the pair's advance assumes a breakout of 0.8815-20 (session low, MA (200) H1) and there may be a decline to 0.8795 (March 21 low)
An alternative scenario implies a breakout of the area 0.8850-65 (March 14 and 25-26 highs) and there may be an increase to 0.8925 (March 6 high)
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