USDCHF has not traded below the 100 hour MA since April 15
The USDCHF made a new high for the week on the spike off the GDP data, but the price has since moved back to the downside and looks to test the lows for the day and in the process, the 100 hour MA at 1.01916. The low for the day has reached 1.0194 so far. We trade at 1.0197 currently.
The USDCHF has not traded below the 100 hour MA since April 15th. Since April 12th, the price has moved up from 0.9996 to 1.02347 high today. Is the run running out of steam?
In support of a correction:
- New highs failed to lead to a run higher.
- Trend lines have been broken
- Below the close at 1.0203
What would help more, is a break below the 100 hour MA.
