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- USD/CHF rose slightly above MA (200) H1
USD/CHF rose slightly above MA (200) H1
Today, on the hourly chart, the USD/CHF pair is trading in the range of 0.8830-50 and has risen slightly above the MA (200) H1 moving average line (0.8825), which indicates a possible strengthening of the bullish trend. However, the current price movement remains in a sideways range, with a resistance level of 0.8855 and support of 0.8815. A break above 0.8855 could open the way to the next resistance at 0.8865, while a break below 0.8815 would lead to a decline towards 0.8780. The MACD indicator shows a weak bullish momentum, but so far without a clear signal for continued growth. If the price stays above the moving average, this will increase the likelihood of further upward movement, but in the case of a downward pullback, a consolidation phase is possible.
Resistance levels are: 0.8855-65, 0.8925, 0.8970
Support levels are: 0.8815, 0.8780, 0.8750
The main scenario for the pair's advance suggests a decline to 0.8815 (April 1 low) and then, perhaps, to 0.8780 (March 31 low)
An alternative scenario implies an increase to the area of 0.8855-65 (March 14 and 25-26 highs) and then, perhaps, to 0.8925 (March 6 high)
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