Support & Resistance

USDCHF consolidates gains between the 100 and 200 hour moving averages

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The USDCHF is trading higher today after an early dip in the Asian session.

Technically, the move to the upside was able to get above a swing area between 0.9917 and 0.99299. Above that, and the price extended above its 100 hour moving average at currently at 0.99355.

The high price for the day did extend above the higher 200 hour moving average at 0.99732 reaching an intraday high of 0.99793. However, that break was short-lived and the price has settled between the 100 hour moving average below and the 200 hour moving average above.

The technical bias is more neutral between those 2 levels. A move above the 200 hour moving average or move below the 100 hour moving average will be eyed for trading clues going forward.

USDCHF trades between its 100 and 200 hour moving averages


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