Yesterday the USD/CHF traded higher and closed the day in the positive territory around 0.8805. Today the pair was trading in a narrow range of 0.8795-0.8805, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8785). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Probably, the main scenario is a resumption of growth towards 0.8815 (the high of the American session on Aug 21).
The alternative scenario is final consolidation below MA 200 H1, followed by fall to 0.8690 (Aug 10 low).
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