Today, the USD/CHF pair is trading in the 0.8945-65 range - near the new 2-month high of 0.8970 reached yesterday. On the hourly chart, the pair moved above the MA (200) H1(0.8905) moving average line and on the four-hour chart above the MA (200) H4 (0.8815). Technically speaking, resistance at 0.8870 may keep prices from rising further. If this level is passed, the pair could rise to 0.9000. The lower boundary of 0.8880 represents a support level.
⦁ Resistance levels are: 0.8970, 0.9000-15, 0.9055
⦁ Support levels are: 0.8915-20, 0.8880, 0.8830
The main scenario for the pair implies a break of the resistance at 0.8970 (Sept 14 high) and a possible rise to 0.9000-15 (June 30 and July 3-6 highs).
The alternative scenario implies a break of support at 0.8915-20 (Sept 14 low, MA (200) H1) and a decline to 0.8880 (Sept 6 low).
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