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- USD/CHF drops to 6-month low
USD/CHF drops to 6-month low
Today, there is a strong downward movement on the hourly chart of the USD/CHF currency pair, which began after the breakdown of the 0.8780 level and the 200-period moving average. The price reached a low of 0.8490, continuing to update local lows. The MACD indicator remains in the negative zone, which confirms the presence of a strong bearish momentum. The nearest support level is at 0.8475, its breakdown may strengthen the downward movement. Resistance levels are located at 0.8570 and 0.8620, and if the price starts a correction, a test of these levels will be key to determine the further direction. The overall trend remains bearish, and until there are reversal signals, there is a high probability that the decline will continue.
Resistance levels are: 0.8570, 0.8620, 0.8700
Support levels are: 0.8475, 0.8430, 0.8400
The main scenario for the pair's advance suggests a breakout of the session low of 0.8475 and a possible decline to 0.8430 (Sep 30 low)
An alternative scenario implies a breakout of the maximum of the European session of 0.8570 and there may be an increase to 0.8620 (high of the American session on April 3)
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