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- USD/CHF is testing MA (200) H1
USD/CHF is testing MA (200) H1
Today, the USD/CHF pair is trading mainly with a decrease from Chf0.9170 to Chf0.9115 and is testing the MA (200) H1 moving average line (Chf0.9160) on the hourly chart. On the four-hour chart, the pair is trading below MA (200) H4 (Chf0.9190). Technically speaking, a strong resistance level of Chf0.9160-80 can keep prices from rising. If it breaks through, prices may soar to Chf0.9245. The lower bound of Chf0.9085-90 represents the support level.
⦁ Resistance levels are: Chf0.9160-80, Chf0.9245, Chf0.9280
⦁ Support levels are: Chf0.9085-90, Chf0.9050, Chf0.9020
The main scenario for the pair's promotion — the pair is likely to decline to Chf0.9085-90 (November 11-2 and January 13-14 lows)
An alternative scenario — if the resistance of Chf0.9160-80 (January 18 and 20 high, MA (200) H1) is broken, then the pair can rise to Chf0.9245 (January 12 high)
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