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- USD/CHF is trading near a 3-month low
USD/CHF is trading near a 3-month low
There is a downward trend on the USD/CHF hourly chart today: it is mainly decreasing from 0.8925 to a 3-month low of 0.8850. The pair is confidently trading below the MA (200) H1 moving average line (0.8955), which confirms the predominance of bearish sentiment. The MACD shows negative values of the histogram, which indicates the predominance of sellers. USD/CHF remains under pressure, and a breakdown of the 0.8850 level may strengthen the downward movement with a target of 0.8810. In case of an upward correction, the nearest resistance is at 0.8925.
Resistance levels are: 0.8925, 0.8955-70, 0.9040-55
Support levels are: 0.8850, 0.8810, 0.8735
The main scenario for the pair's advance suggests a breakout of the session low of 0.8850 and a possible decline to 0.8810 (Dec 11 low)
An alternative scenario implies an increase to the session high of 0.8925 and there may be an increase to 0.8955-70 (March 4 high, MA (200) H1)
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