USD/CHF Analysis

[Uritron]

Yesterday, the USD/CHF traded lower and closed the day in the red zone around the price of 0.9055. Today, the pair traded in a narrow range of 0.9050–60, remaining close to yesterday's closing price. On the hourly chart, USD/CHF trades above the moving average line MA (200) H1 (0.9010). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading, and while the pair remains above the MA 200 H1, you may need to look for entry points to buy when a correction is formed.

Resistance levels are at 0.9065, 0.9110-20, and 0.9175.
Support levels are at 0.9010–15, 0.8980, and 0.8965.

The main scenario for the pair's progress is a resumption of growth to 0.9065 (the high of the American session on November 2).

The alternative scenario is a final consolidation below the MA 200 H1 level, followed by a fall to 0.8890 (Oct 24 low).

[Sharon Smith]

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