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- USD/CHF is trading near a 3-year high
USD/CHF is trading near a 3-year high
Today, the USD/CHF pair is trading mainly with an increase from Chf1.0015 to Chf1.0060, reaching a new 3-year high. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0.9915) and on the four-hour chart - above MA (200) H4 (Chf0.9575). In this situation, the scenario of further growth of the USD/CHF pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger US dollar.
It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: Chf1.0060, Chf1.0095, Chf1.0120
⦁ Support levels are: Chf0.9990, Chf0.9915-30, Chf0.9870
The main scenario for the pair's promotion — breakout of the session maximum of Chf1.0060 and there may be an increase to Chf1.0095 (May 28 and 30’ 2019 high)
An alternative scenario — support breakout of Chf0.9990 (May 13 low) and there may be a decline to Chf0.9915-30 (May 12 low, MA (200) H1)
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