Looks toward retracement and the week's highs
The USDCHF has cracked back above a swing area between 0.90647 and 0.90684 along with the 100 hour moving average at 0.90699. That area (from 0.90647 and 0.90699) is now support. Stay above keeps the bias more to the upside. Move below and we could see some disappointment on the failed break.
On the topside the pair is moving toward its 38.2% retracement at 0.90811. The swing hi from Monday before rotating lower came in at 0.9092. The high price from Monday in the Asian session reached 0.9095. All those are the next targets on further upside momentum. Above them and traders will behind the 50% and 200 hour moving averages which are currently around the 0.9103 level.
