The USDCHF moved higher today and in the process moved up to test the 200 hour MA at 0.93362 (green line in the chart above). The price high reached 0.9335 and backed off. The current price is at 0.9322.
Earlier today, the pair moved above the 100 hour MA and a downward sloping trend line, and then the swing lows and highs from December between 0.9311 adn 0.9325.
THe price is back in that range. A move below would have traders looking back toward the 100 hour MA.
Buyers have been more dominant today, but the 200 hour MA hold put the stall on that run. Now the battle is on with the 100 hour MA below and a swing area in between.
This article was originally published by Forexlive.com. Read the original article here.