Cracks the 100 hour MA
The USDCHF is trading to a new session low at 0.9083. In the process, the pair has moved below its 100 hour moving average at 0.90849.
Him Today, the pair moved higher in the Asian session but started to give up the gains which saw the price move above it's 200 hour MA. In the London morning session, the price moved back below that 200 hour MA. IN the NY session today, traders started to use the MA as a ceiling.
Now with the price moving below the 100 hour MA, sellers are trying to take even more control. The pair is also moving into the middle of the range that prevailed before the extension higher today between 0.90481 below and 0.9109 above.
Price action can remain choppy. That has been the order over the last 5+ trading days. The buyers tried to make the play today but failed. As a result, the battle continues between the buyers and sellers in the recent up and down range.
