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- USD/CHF dropped slightly below MA (200) H1, but remains above MA (200) H4
USD/CHF dropped slightly below MA (200) H1, but remains above MA (200) H4
Today, the USD/CHF pair declined from Chf0.9215 to Chf0.9165 and fell slightly below the MA (200) H1 moving average line (Chf0.9220). On the four-hour chart, the pair remains above MA (200) H4 (Chf0.9125). Support for Chf0.9185 may keep USD/CHF from further decline. If it is passed, the pair may drop to Chf0.9075. The Chf0.9220-45 area represents the closest support. If it is passed, then the pair may be followed by a correction to Chf0.9295-0.9300. The most likely range of movement of the pair today may be hidden within the range of Chf0.9130-0.9245.
⦁ Resistance levels are at: Chf0.9220-45, Chf0.9295-0.9300, Chf0.9350
⦁ Support levels are at: Chf0.9130, Chf0.9075, Chf0.9050
The main scenario for the pair's promotion - correction, breakout of the Chf0.9220-45 area (September 29-30 high, MA (200) H1), and the pair's likely growth to Chf0.9295-0.9300 (July 23 and September 25-28 highs)
An alternative scenario - breakout of support for Chf0.9130 (September 22 low) and a likely decline in the pair to Chf0.9075 (September 18 low).
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