May be time to take a little breather
The USDCHF moved higher after the EURUSD tumble lower. That move took the price up to a old trend line that helped define a wedge back in mid August. That level comes in at 0.9757. It proved to be a level that slowed the rise. Earlier the price broke above a trend line at 0.9716 level and this will be eyed as a risk level for longs now.
Looking at the 5 minute chart, the trend move higher today (after a consolidation narrow range), has been holding the 38.2% retracement level. That keeps the buyers in control. The battle rages on with the buyers still holding an edge.
