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- The USD/CHF remains above MA 200 H1
The USD/CHF remains above MA 200 H1
The USD/CHF traded lower on Friday and closed the day in the red near 0.8015. Today it traded in a tight range of 0.7995-20, remaining near Friday's closing price. On the hourly chart, USD/CHF is still trading above the MA (200) H1 moving average line (0.7990). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 0.8035, 0.8060-65, 0.8075
- Support levels are at: 0.7985, 0.7940-50, 0.7920
Probably, the main scenario is a resumption of growth to 0.8035 (Jul 18 high).
An alternative scenario is a final consolidation below the MA 200 H1 level, followed by a fall to 0.7920 (Jul 10 low).
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