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- USD/CHF remains below MA (200) H1
USD/CHF remains below MA (200) H1
Today, the USD/CHF pair is trading in the range of 0.8955-0.9000, having reached an almost 2-month low since the beginning of trading. On the hourly chart, the pair remains below the MA (200) H1 moving average line (0.9030). The situation is similar on the four-hour chart. Based on the above, it is probably worth following the southern direction in trading and as long as the pair remains below the MA 200 H1, it is necessary to look for entry points to sell. Technically speaking, the 0.8955 support has kept USD/CHF from further decline so far. If this level is breached, the pair may fall to 0.8900. The upper limit of 0.9055 represents a strong resistance level.
Resistance levels are: 0.9005, 0.9055, 0.9085
Support levels are: 0.8955, 0.8900-10, 0.8810
The main scenario for the pair's advance suggests a breakout of the session low of 0.8955 and a possible decline to 0.8900-10 (Dec 16 and 23 lows)
An alternative scenario implies a breakout of the resistance 0.9005 (Feb 21 high), an increase to MA (200) H1 (0.9030) and then, maybe, to 0.9055 (Feb 19 high).
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