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- USD/CHF rose to a monthly high
USD/CHF rose to a monthly high
Today, a powerful upward momentum is observed on the hourly chart of USD/CHF, as a result of which the pair broke through several resistance levels at once — 0.8340 and 0.8410 — and reached a monthly maximum near 0.8475. The growth is accompanied by a significant expansion of the MACD histogram in the positive zone, which confirms the strength of the bullish momentum and the absence of signs of slowing down. The price has firmly consolidated above the MA (200) H1 moving average, which indicates a change in the medium-term trend in favor of growth. While there are no reversal signals, the technical picture remains moderately bullish.
Resistance levels are: 0.8475, 0.8585, 0.8670
Support levels are: 0.8410, 0.8340, 0.8260
The main scenario for the pair's advance suggests a breakout of the session high of 0.8475 and there may be an increase to 0.8585 (April 9-10 high).
An alternative scenario implies a breakout of the low of the European session 0.8410 and there may be a decline to 0.8340 (May 9 high)
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