USD/CHF, US Dollar versus the Swiss Franc
The USD/CHF cross has breached the 200-day moving average on the H4 chart, indicating that a bearish move may be imminent. However, the RSI is already floating in the oversold territory. As a result, we expect the price to rise above the 2/8 level (0.8911) and reach the 3/8 resistance level (0.8977). The scenario can be canceled by a downward break of 1/8 (0.8850). In this case, the pair could fall to the support level of 0/8 (0.8789).
On the M15, a breach of the upper border of the channel may increase the probability of an upward movement.
XAU/USD, “Gold vs. the US Dollar
The price of the XAU/USD is above its 200-day moving average on the H4 chart, indicating that an upward trend is in place. The RSI has breached the resistance line. In this case, a rise above the 7/8 level (1968.75) is expected, followed by a rise to the 8/8 resistance level (2000.00). The scenario could be canceled by a downward break of 6/8 (1937.50), which could lead to a trend reversal and a drop to the support at 5/8 (1906.25).
On the M15, a break of the upper border of the VoltyChannel could increase the probability of a further rise in price.
