Technical analysis

08 April 2021

12:42 USD/CHF remains below the MA 200 H1 line

Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9290. Today it was trading in a narrow range of Chf0.9290-00, staying close to yesterday's closing price. On the hourly chart, USD/CHF still trading below the moving average MA line (200) H1 (Chf0.9390). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the south direction in trading and while the USD/CHF remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

  • Resistances levels are at: Chf0.9330, Chf0.9395, Chf0.9435

  • Support levels are at: Chf0.9270, Chf0.9240, Chf0.9225

Probably, the main scenario - is a subsequent decline to Chf0.9270 (Apr 7 low). Alternative scenario - may be consolidation above MA 200 H1 level, with further advance towards Chf0.9470 (Apr 1 high).

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