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- USD/CHF remains below MA (200) H1
USD/CHF remains below MA (200) H1
There is a downward trend on the hourly chart of the USD/CHF currency pair, which has been pronounced in recent days. The price is declining from levels around 0.8200 and has reached lows of about 0.8055. The recent rise after the low reached indicates the possible beginning of a correction or a temporary strengthening of consumer sentiment. Technically, it can be noted that the price is now below the MA (200) H1 moving average, which confirms the dominance of the bearish trend. The MACD indicator at low levels shows the weakness of bullish positions, however, the last candles show growth, which may indicate the beginning of a corrective pullback. In general, the current situation indicates the predominance of a bearish trend with a possible correction in the near future, while it is important to monitor the breakdown of key levels to confirm further scenarios.
Resistance levels are: 0.8155, 0.8195, 0.8235-50
Support levels are: 0.8100, 0.8055, 0.8000
The main scenario for the pair's advance suggests a breakout of 0.8100 (June 12 low) and there may be a decline to the sensory low of 0.8055
An alternative scenario implies a breakout of 0.8155 (June 2 low) and there may be an increase to MA (200) H1 (0.8195)
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