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- USD/CHF is trading near a 2-month low
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)
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