Technical Analysis
14.01.2022, 12:44

USD/CHF is trading near a 2-month low

Today, the USD/CHF pair is trading in the range of Chf0.9095-0.9120 - about a 2-month low reached earlier on December 31. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Chf0.9190) and on the four-hour chart - below MA (200) H4 (Chf0.9200). In this situation, a scenario of further decline of the USD/CHF pair is likely. Finding a position to sell can be a wise decision for those who want to take advantage of a stronger Swiss franc.

However, it is worth noting that a bullish divergence has formed on the hourly chart according to the MACD indicator, which signals a possible change in the direction of price movement.


Resistance levels are: Chf0.9150, Chf0.9190, Chf0.9245

Support levels are: Chf0.9090-0.9100, Chf0.9050, Chf0.9020


The main scenario for the pair's promotion — support breakthrough of Chf0.9090-0.9100 (November 1-3 and  9-10, December 31 and January 13 lows) and there may be a decline to Chf0.9050 (August 5 low)

An alternative scenario — Resistance breakout is Chf0.9150 (January 13 high) and there may be an increase to MA (200) H1 (Chf0.9190)

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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