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- USD/CHF remains above MA (200) H1
USD/CHF remains above MA (200) H1
Today, the USD/CHF hourly chart shows a downward correction after the rapid growth that occurred on May 10-12. The price peaked at 0.8475, from where the decline phase began. The pair is currently trading near the 0.8385 level. The moving average, which is currently passing near 0.8325 and may act as a dynamic support. The MACD indicates a decrease in momentum: the histogram is still in the negative zone, but there is an attempt to reverse it upward, which may indicate a potential slowdown in the downward movement and a possible upward reversal. The overall technical mood is moderately neutral with a short-term bearish bias, but indicators are beginning to signal a possible trend change.
Resistance levels are: 0.8440, 0.8475, 0.8585
Support levels are: 0.8360, 0.8325, 0.8260
The main scenario for the pair's advance suggests a breakout of the resistance 0.8440 (May 14 high) and there may be an increase to 0.8475 (May 12 high).
An alternative scenario implies a breakout of the session low of 0.8360 and there may be a decline to 0.8325 (May 15 low)
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