200 hour MA and swing levels over the last few days
The USDCHF is trading near session highs as the US session works toward the close. Having said that, the pair is below the 200 hour MA at 0.92826 and a swing area between 0.9279 to 0.92828. The high from from earlier in the US session did extend up to 0.92879, but reversed lower.
If the pair is to increase the bullish bias, getting back above the 200 hour MA (and staying above) and the higher 100 hour MA (blue line) at 0.93000 (a nice round number as well) would be eyed by traders. Absent that, and the sellers are more in control.
NOTE: The pair fell sharply yesterday on the back of the steady rates and sharply lower stocks (some flight into the CHF and out of the USD). The low price reached the 50% retracement (and moved briefly below it) at 0.92336.
Today in the Asian session, buyers came in against the level and pushed the pair back higher.
If the sellers are to push lower, that 50% level will be a key barometer for buyers and sellers. Move below, would increase the bearish bia articles.
