Murrey math lines: USD/CHF, XAU/USD
|USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF quotes have broken the 8/8 (0.8789) level, escaping the overbought area on H4. The RSI is testing the support line. In this situation, a further decline to the support at 6/8 (0.8667) is expected. The scenario could be cancelled by rising above the resistance at +1/8 (0.8850), in which case, the quotes could rise to +2/8 (0.8911).
On M15, the price decline might be supported by a breakout of the lower boundary of the VoltyChannel.
XAU/USD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the 3/8 (2046.88) level might break, so that the quotes could rise to 4/8 (2062.50). The scenario might be cancelled by a downward breakout of the support at 2/8 (2031.25), in which case, gold quotes might drop to the 1/8 (2015.62) level.
On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.
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