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- USD/CHF is trading near a six-week low
USD/CHF is trading near a six-week low
Today, the USD/CHF pair is trading in the range of Chf0. 9050-80 - slightly above the six-week low of Chf0.9020 reached yesterday. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Chf0. 9090) and on the four-hour chart - below MA (200) H4 (Chf0.9165). In this situation, it is probably worth sticking to the southern direction in trading, and you should look for exit points for sale.
⦁ Resistance levels are: Chf0.9075-90, Chf0.9165-85, Chf0.9220
⦁ Support levels are: Chf0.9020, Chf0.8965, Chf0.8925
The main scenario for the pair's promotion — support breakout of Chf0. 9020 (August 3 low) and then there may be a decline to Chf0. 8965 (June 15 low)
An alternative scenario — if the resistance of Chf0.9075-90 (July 30 and August 4 high, session maximum, MA (200) H1) is broken, the pair can rise to Chf0. 9165-85 (July 27-28 highs)
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