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- USD/CHF rose slightly above the MA (200) H1
USD/CHF rose slightly above the MA (200) H1
Today, the USD/CHF pair is trading in the range of 0.8675-0.8700, after declining last week to the lowest value since October 2011 at 0.8555. On the hourly chart, the pair moved slightly above the MA (200) H1(0.8620) moving average line, but remains below the MA (200) H4 (0.8970) on the four-hour chart. Technically speaking, the resistance level at 0.8795 may keep prices from rising further. In case it is broken, USD/CHF could rise to 0.8920. The lower boundary of 0.8555 represents a strong support level. The most probable range of the pair's movement for today may be hidden within the 0.8620-0.8795 range
⦁ Resistance levels are: 0.8795, 0.8920, 0.9000
⦁ Support levels are: 0.8620-40, 0.8555, 0.8500
The main scenario for the pair suggests a break of 0.8620-40 (July 24 low, MA (200) H1) and may be a decline to 0.8555 (July 18 low)
The alternative scenario suggests a break of resistance at 0.8795 (July 12 high) and a possible rise to 0.8920 (July 10 high).
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