Today, the USD/CHF pair is trading in the range of 0.8815-45 and is testing the MA (200) H1 (0.8815) moving average line on the hourly chart. On the four-hour chart, the pair remains above the MA (200) H4(0.8745). Technically speaking, the resistance level at 0.8845 may keep prices from rising further. If this level is passed, the pair could rise to 0.8875. The lower boundary of 0.8770 represents a support level.
⦁ Resistance levels are: 0.8845, 0.8875, 0.8920
⦁ Support levels are: 0.8815, 0.8770, 0.8745
The main scenario for the pair implies a break of the resistance at 0.8845 (Aug 31 high) and there could be a rise to 0.8850-75 (Aug 25 and 30 highs).
The alternative scenario implies a breakout of the session low and MA (200) H1 (0.8815) and may be a decline to 0.8770 (Aug 31 low).
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