USD/CHF declines after touching high zone

Source: Dukascopy Bank SA


After testing the September high level zone above the 0.9350 mark, the USD/CHF began a decline on November 25. Most recently, on November 30, after finding short term support in the 200-four hour period SMA, the rate passed below the SMA and indicated that it could extend its decline.

The ongoing decline had no technical support as low as the November and September low level zone at 0.9090/0.9105. However, note that the 0.9150 could provide support to a potential decline, as this level slowed down a recovery in early November.

On the other hand, a surge of the USD/CHF would face the upper trend line of a narrow channel down pattern and the 200-four hour period SMA near 0.9210. Above these levels, the 50-four hour period SMA might act as resistance near 0.9300.
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