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- USD/CHF stays above the MA (200) H1
USD/CHF stays above the MA (200) H1
Today, the USD/CHF pair is trading in the 0.8690-0.8720 range, having retreated last week from its lowest value since October 2011 (0.8550). On the hourly chart, the pair remains slightly above the MA (200) H1(0.8650) moving average line, but on the four-hour chart it is trading below the MA (200) H4 (0.8920). Technically speaking, the resistance level at 0.8735 may keep prices from rising further. In case it is broken, prices may soar to 0.8795. The lower boundary of 0.8550 represents a strong support level. The most probable range of the pair's movement for today may be hidden within the existing range of 0.8660-0.8735.
⦁ Resistance levels are: 0.8735, 0.8795, 0.8920
⦁ Support levels are: 0.8635, 0.8550, 0.8500
The main scenario for the pair suggests support at 0.8650-60 (July 28 low, MA (200) H1) and there could be a decline to 0.8550 (low of July 18 and 27).
The alternative scenario suggests a break of resistance at 0.8735 (July 28 high) and there could be a rise to 0.8795 (July 12 high).
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