Technical analysis

18 October 2021

19:29 USD/CHF tried to test the strength of MA (200) H1

Today, the USD/CHF pair has grown from Chf0.9220-0.9275, but at the time of writing it has slightly decreased to Chf0.9250. On the hourly chart, the pair tried to break through the MA (200) H1 moving average line (Chf0.9265). On the four-hour chart, the pair remains slightly above MA (200) H4 (Chf0.9240). Technically speaking, the level of MA (200) H1 (Chf0.9270) can keep prices from rising. If it breaks through, prices may rise to Chf0.9315. The lower bound of Chf0.9220 represents the support level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9220-75.


Resistance levels are: Chf0.9265-75, Chf0.9315, Chf0.9370

Support levels are: Chf0.9220, Chf0.9195,  Chf0.9165


The main scenario for the pair's promotion — correction and decline to Chf0.9220 (October 15 low, session minimum)

An alternative scenario — if the area of Chf0.9265-75 (session maximum, MA (200) H1) is broken, then the pair may rise to Chf0.9315 (October 12 high)


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