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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, the USD/CHF hourly chart shows a recovery after a sharp downward momentum in early April, but the overall movement remains in a sideways range. The pair is trying to gain a foothold above the 0.8190 support level, but is encountering resistance in the 0.8340 area, where reversals have already occurred. The MA (200) H1 moving average runs almost through the center of the range and is now acting as a dynamic resistance. The price has repeatedly tested it from above and below, which indicates the absence of a confident trend. The MACD indicator shows neutral signals with a slight negative divergence, indicating a weakening of the bullish momentum. The overall picture looks restrained and bearish, especially if consolidation occurs below the moving average and the 0.8190 level.
Resistance levels are: 0.8340, 0.8455, 0.8585
Support levels are: 0.8190, 0.8115, 0.8040
The main scenario for the pair's advance suggests a breakout of the support 0.8190 (April 28 low) and a possible decline to 0.8115 (April 16 low)
An alternative scenario implies an increase to 0.8340 (April 25 and May 1 high) and then, maybe, to 0.8455 (April 7 low)
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