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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF pair is trading in the range of 0.8795-0.8840 and is testing the MA (200) H1 moving average line (1.8815) on the hourly chart. The USD/CHF pair is trading in a downtrend. The recent growth encountered resistance around 0.8845, followed by a pullback. At the moment, the price has broken down MA (200) H1 and is moving towards the support of 0.8795. If this level is breached, a further decline to the next level of 0.8750 is likely. The MACD indicator shows a slowdown in the upward momentum, which confirms the likelihood of a continuation of the downward movement. In case of a return above 0.8845, the bearish scenario can be reversed and the price can test the 0.8865 level.
Resistance levels are: 0.8845-65, 0.8925, 0.8970
Support levels are: 0.8795, 0.8750, 0.8735
The main scenario for the pair's advance suggests a breakout of the session low of 0.8795 and a possible decline to 0.8750 (March 18 low)
An alternative scenario implies a breakout of the area 0.8845-65 (March 14 and 20 high) and there may be an increase to 0.8925 (March 6 high)
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