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- USD/CHF rose above MA (200) H1
USD/CHF rose above MA (200) H1
Today, the USD/CHF hourly chart shows an upward correction after a period of consolidation and decline. The price broke through the resistance level around 0.8255 and gained a foothold above, which indicates an increase in consumer activity. The current quote is near 0.8310, and the nearest resistance is at 0.8340, which has already been tested. If it breaks down, further upward movement is possible.
The MA (200) H1 moving average is located near the 0.8255 level and served as support during the previous growth, which confirms the change of the short-term trend to an upward one. The price is trading above this average, which is a bullish signal. The MACD indicator shows a positive histogram value, but with signs of slowing growth - the columns are decreasing, which may indicate a possible short-term correction or consolidation at current levels.
Resistance levels are: 0.8340, 0.8455, 0.8585
Support levels are: 0.8255, 0.8285, 0.8185
The main scenario for the pair's advance suggests a breakout of the session high of 0.8340 and there may be an increase to 0.8455 (April 7 low).
An alternative scenario implies a breakout of MA (200) H1 (0.8255) and there may be a decline to 0.8285 (May 8 low)
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