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- The USD/CHF Has Fallen Sharply Again
The USD/CHF Has Fallen Sharply Again
Yesterday, the USD/CHF was trading lower and closed the day in the red zone near the price of 0.8575. Today, it also fell sharply, dropping to the 0.8530 mark. On the hourly chart, USD/CHF is still trading below the moving average line MA (200) H1 (0.8800). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.
- Resistance levels are at: 0.8595, 0.8615, 0.8710
- Support levels are at: 0.8530, 0.8500, 0.8450
Probably, the main scenario is a subsequent decline to 0.8530 (session low).
An alternative scenario is a final consolidation above the MA 200 H1 level, followed by a rise to 0.8850 (Apr 2 high).
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