Today, the USD/CHF pair is trading in the range of Chf0.9535-75 after declining yesterday from Chf0.9620 to Chf0.9545. On the hourly chart, the pair is testing the MA (200) H1 moving average line (Chf0.9570). On the four-hour chart, the pair remains below MA (200) H4 (Chf0.9650). Technically speaking, the support of Chf0.9470 can keep prices from further decline. The upper bound of Chf0.9650-70 represents the resistance level.
⦁ Resistance levels are: Chf0.9620, Chf0.9650-70, Chf0.9740
⦁ Support levels are: Chf0.9535, Chf0.9450-70, Chf0.9410
The main scenario for the pair's promotion is a breakout of the session minimum of Chf0.9535 and there may be a decrease in Chf0.9450-70 (April 20-21, August 2 lows)
An alternative scenario is a breakout of the resistance of Chf0.9620 (August 4 high) and there may be an increase in Chf0.9650-70 (July 25-27 and August 3 highs)
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