USD/CHF, “US Dollar vs. Swiss Franc
The price of the USD/CHF is below its 200-day moving average on the H4 chart, indicating a bearish trend may be in place. The RSI is approaching the resistance line. In this situation, a test of 4/8 (0.8789) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.8667). The scenario could be canceled with a break above the 4/8 (0.8789) level. In this case, the pair could climb to the resistance at 5/8 (0.8850).
XAU/USD, “Gold vs. US Dollar
The price of gold is above its 200-day moving average on the H4 chart, indicating an upward trend. The RSI is testing the resistance line. In this situation, we expect the price to rise above 5/8 (2031.25) and reach the resistance at 6/8 (2062.50). This scenario could be canceled by a downward break of the 4/8 (2000.00) level. In this case, gold could fall to the support at 3/8 (1968.75).
