Failed break on hourly
The USDCHF moved to the lowest level since September 27, 2018, taking out yesterday's lows at 0.9681 and also breaking below a lower trend line on the hourly chart at the 0.9666 level. The low reached 0.96589.
The headlines of phone contact between US and China representatives, has helped to push the price higher (risk on). The Nasdaq is up 1.87% now.
Is the bottom in? Seems that way. A move back below the lows from last week at 0.9691 and the low from yesterday at 0.9681, would spoil that view.
Targets on the topside include 0.9711, and then the 100 hour MA and trend line at 0.9728 area. A move above the 100 hour MA (and stay above) would be more bullish.
