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- USD/CHF shows an uptrend
USD/CHF shows an uptrend
The hourly chart of the USD/CHF pair shows an uptrend, which has been actively developing since mid-July, as evidenced by the price increase above the red moving average, which is also directed upwards. The pair has successfully overcome several resistance levels, reaching recent highs around 0.8065. However, there has been a corrective decline in recent hours, and the price is retreating from these highs. The MACD indicator located at the bottom of the chart shows that the histogram is in the red zone and is declining, while the signal line is moving down, indicating a weakening of the upward momentum and a possible continuation of the correction.
Resistance levels are: 0.8040, 0.8060-80, 0.8130
Support levels are: 0.7995, 0.7955, 0.7920
The main scenario for the pair's progress is a breakout of the session high of 0.8040 and there may be an increase to 0.8060-80 (June 25 and July 16 high)
An alternative scenario implies a breakout of the support 0.7995 (July 8 high) and a possible decline to 0.7955 (July 15 low)
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