USDCHF test 100 day and 100 hour MA and holds on the first test

View Comments







The USDCHF moved off the low in the Asian session and just took a look at key resistance against the 100 day MA at 0.9557 (blue line in the chart above) and 100 hour MA at 0.9561 (blue line in the hourly chart below).  The test held (so far at least) and the price has rotated modestly to the downside.  A move above this MA area would next have the 200 hour MA to get above at 0.95703 (green line in the hourly chart below). 







On the downside now, the move higher today has the 38.2% retracement and the Asian high at the 0.95415-43 as support.  If buyers are in control – and intent on moving higher – this area should attract buyers.  If the level is broken, the holding of the 100 hour/day resistance will take on more significance in the minds of traders,  and I would expect the downside to reassert itself.


All|Technical Analysis


Greg Michalowski

One Comment

  1. Thanks Greg


© Copyright 2015 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.