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- USD/CHF tests MA (200) H1
USD/CHF tests MA (200) H1
Today, on the hourly chart, the USD/CHF pair is trading in a descending channel, while the price continues to experience resistance around 0.8290–0.8310, where the MA (200) H1 moving average also passes. Growth attempts are limited to this area, indicating continued selling pressure. The MACD indicator remains in the positive zone, but shows a narrowing of the histogram, which signals a decrease in bullish dynamics and a potential change in direction. The overall picture remains bearish until the price breaks the resistance area of 0.8310–0.8365, which could be the first sign of a trend reversal. At the current stage, short-term consolidation prevails with the risk of continued decline.
Resistance levels are: 0.8290, 0.8310, 0.8365
Support levels are: 0.8255, 0.8190, 0.8115
The main scenario for the pair's advance suggests a breakout of the session low of 0.8255 and a possible decline to 0.8190 (May 7 and 27 low).
An alternative scenario implies a breakout of the session high of 0.8290 and there may be an increase to 0.8310 (May 22 high)
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