USDCHF bounces off the support and moved back toward the ceiling area

Technical Analysis

Author: Greg Michalowski | usdchf

Support near 0.9199 to 0.92057 stalls the corrective fall

In an earlier post I spoke how the pair stalled near the resistance ceiling.   On the downside, the pair had support near 0.9199 to 0.93057.  In that post, I commented, 

"On the downside traders will be eyeing the 0.9199 to 0.92057 for support.  If it can hold, the buyers are still more in control."
Support near 0.9199 to 0.92057 stalls the corrective fall
The low corrective price reached 0.9204. The price has bounced higher.

The pair currently trades at 0.9226. The the upside ceiling between 0.92317 and 0.92414 still remains as the resistance to get to and through. A move above opens the door for further upside momentum either into the close or in the new trading day. 

Absent that and the pair can continue to ping-pong between 0.9199 and 0.92414. At some point there will be a break and run
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