- Analytics
- Market analysis
- Technical Analysis
- USD/CHF is trading near its lowest in almost two and a half weeks
USD/CHF is trading near its lowest in almost two and a half weeks
Today, the USD/CHF pair is trading down from Chf0.9205 to Chf0.9155, reaching a low of almost two and a half weeks. The pair is trading below the moving average line of MA (200) H1 (Chf0.9225), but on the four-hour chart, USD/CHF remains above MA (200) H4 (Chf0.9130). Support for Chf0.9130 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 nearest resistance. 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: Chf0.9225-45, Chf0.9295-0.9300, Chf0.9350
⦁ Support levels are at: Chf0.9130, Chf0.9075, Chf0.9050
The main scenario for the pair's promotion - breakout of support for Chf0.9130 (September 22 low), and a likely decline in the pair to Chf0.9075 (September 18 low)
An alternative scenario - correction, breakout of the Chf0.9220-45 area (September 29-30 and October 2 highs) and the pair's likely growth to Chf0.9295 (September 25-28 high).
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