USDCHF completes the down and up lap

Technical Analysis

Author: Greg Michalowski | usdchf

Ups and downs

The USDCHF snapped higher from the earlier break below the 200 and 100 hour MAs. The initial move retested the underside of the broken trend line and retrenched.   

Ups and downs
The recent run higher got above the old trend line and shot up to the high for the day at 0.9167. The high just reached 0.91663 - just short of the 0.6167 high from the Asian session.  A move above that level will likely lead to more buying with the high from yesterday as the next targe at 0.9183.

Close risk? The old trend line at  0.9152.   

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