Also back above 50% midpoint of the August trading range
The USDCHF is joining more in the dollar buying spree seen in pairs like the EURUSD, GBPUSD, AUDUSD (all have the USD making new highs vs them).
For the USDCHF, it has seen a move lower earlier in the day on the flight into the relative safety of the CHF. However, we are seeing some modest rebound in stocks (they are still down) and the yields along the treasury curve have moved back toward unchanged/positive (after being lower earlier in the day).
For the USDCHF, it just moved back above its 100 day moving average at 0.9128 and also the midpoint of the August trading range at 0.91296. The current price trades at 0.9132 after reaching a high of 0.9134.
Can buyers continue the rotation higher?
The Asian session high came in at 0.91354. Get and stay above that level and we should see further upside momentum. The broken 38.2% retracement comes in at 0.9156. The high from yesterday reached 0.9161. Those are upside target for thhe pair on further momentum.
