USD/CHF pair remains under pressure of currency pairs as of 01.11.2019

14:58 USD/CHF remains under pressure

The USD/CHF is traded in the range of Chf0.9855-75 after falling to a low in sulfur on October 22 and retreating from more than a week high of Chf0.9970, reached on Monday. USD/CHF fell below the MA (200) N1 (Chf0.9910) moving average, and on the four-hour chart it tests MA (200) N4 (Chf0.9930), signaling a possible transition to bear control. In this situation, it is worthwhile to start following the southern direction in trade and looking for points of sale.

  • Resistances are at: Chf0.9905-15, Chf0.9945, Chf0.9995
  • Support levels are on: Chf0.9840, Chf0.9800, Chf0.9770

The main scenario of the pair advancement is continuation of downward movement to Chf0.9840 (minimum on October 18-21)Alternative scenario – correction and uptrend to Chf0.9905-15 (maximum October 23, minimum October 25, MA (200) H1)