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- USD / CHF is down again, after rising since the beginning of trading and testing MA (200) H1
USD / CHF is down again, after rising since the beginning of trading and testing MA (200) H1
Today, since the beginning of trading, the USD/CHF pair continued the growth started during yesterday's US trading, and increased from Chf0. 9090 to a weekly high of Chf0.9140. But during the European session, the pair fell to Chf0. 9100, losing almost all the positions won at the beginning of trading. On the hourly chart, the pair is testing the MA (200) H1 moving average line (Chf0. 9110). The situation is similar on the four-hour chart. A strong support level of Chf0. 9080 may keep USD / CHF from falling further. If it breaks through, the pair may decline to Chf0. 9050. The session high of Chf0. 9140 represents the resistance level. If they are passed, USD/CHF may follow a correction to Chf0. 9160. The most likely range of movement of the pair today may be hidden within the range of Chf0. 9080-0.9140.
⦁ Resistance levels are at: Chf0.9140, Chf0.9160, Chf0.9200
⦁ Support levels are at: Chf0.9080, Chf0.9050, Chf0.9000
The main scenario for the pair's promotion - break in support for Chf0. 9080 (September 3 low), and a likely decline to Chf0.9050 (September 10 low).
An alternative scenario - breakout of the session high of Chf0. 9140, and the pair is likely to grow to Chf0.9160 (September 6 high).
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