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- USD/CHF shows weak correction after growth
USD/CHF shows weak correction after growth
On the hourly chart, the USD/CHF pair shows a weak correction after growth, while the price is approaching the key support at 0.7985, where the MA (200) H1 moving average passes. This level acts as a potential point for an upward reversal. The resistance is located around 0.8020, and its breakdown may open the way to 0.8065. The MACD indicator indicates a weakening of the bullish momentum and the possible formation of a reversal phase. However, as long as the price remains above the MA (200), there is still potential for renewed growth. In case of a breakdown downwards, the next support is at 0.7955.
Resistance levels are: 0.8020, 0.8060-80, 0.8130
Support levels are: 0.7985, 0.7955, 0.7920
The main scenario for the pair's progress is a breakout of the support 0.7985 (July 18 low) and a possible decline to 0.7955 (July 15 low)
An alternative scenario implies an increase to the session high of 0.8020 and then, maybe, to 0.8060-80 (June 25 and July 17 highs)
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