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- USD/CHF slipped back to the lows of October 2011
USD/CHF slipped back to the lows of October 2011
Today, the USD/CHF pair is mostly declining from 0.8620 to 0.8550, dropping again to its lowest level since October 2011, reached earlier last week. On the hourly chart the pair is testing the moving average line of MA (200) H1 (0.8620) and on the four-hour chart it remains below MA (200) H4 (0.8945). In this situation, the scenario of further decline in the pair USD/CHF is likely. Finding a sell position may be a wise decision for those who want to benefit from a stronger Swiss Franc.
⦁ Resistance levels are: 0.8620, 0.8700, 0.8795
⦁ Support levels are: 0.8550, 0.8500, 0.8400
The main scenario of the pair's advance assumes a break of the session minimum of 0.8550 and may be a decline to the psychological level of 0.8500.
The alternative scenario assumes a break of the resistance at 0.8620 (session high, MA (200) H1) and there may be a rise to 0.8700 (July 24-25 high).
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