Yesterday the USD/CHF traded lower and closed the day in the red zone near the price of Chf0.9110. Today it was trading in a narrow range of Chf0.9100-15, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9190). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/CHF remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: Chf0.9145, Chf0.9205, Chf0.9245
Support levels are at: Chf0.9085-90, Chf0.9050, Chf0.9020
Probably, the main scenario is a further decline towards Chf0.9090 (Jan 13 low). An alternative scenario is a consolidation above the MA 200 H1 level, followed by growth towards Chf0.9275 (Jan 11 high).
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.