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- USD/CHF is declining and testing MA (200) H1
USD/CHF is declining and testing MA (200) H1
Today, the USD/CHF pair is declining from Chf0.9635 to Chf0.9565 after rising on Friday from Chf0.9535 to Chf0.9650. On the hourly chart, the pair is testing the MA (200) H1 moving average line (Chf0.9565). On the four-hour chart, the pair remains below MA (200) H4 (Chf0.9650). Technically speaking, the support of Chf0.9535 can keep prices from further decline. The upper bound of Chf0.9650-70 represents the resistance level.
⦁ Resistance levels are: Chf0.9650-70, Chf0.9740, Chf0.9790
⦁ Support levels are: Chf0.9535, Chf0.9450-70, Chf0.9410
The main scenario for the pair's promotion is a breakout of support for Chf0.9535 (August 5 low) and there may be a decline in Chf0.9450-70 (April 20-21, August 2 lows)
An alternative scenario implies the pair's growth to Chf0.9650-70 (July 25-27 and August 3 high)
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