USDCHF moves to a new session high

Technical Analysis

Author: Greg Michalowski | usdchf

Extend above resistance on the daily chart and looks toward its 100 day moving average

Extend above resistance on the daily chart and looks toward its 100 day moving average_
The USDCHF has moved to a new session high and in the process is trying to extend above a swing area on the daily chart between 0.89782 and 0.89980. Yesterday the high price moved to 0.89947 and found sellers against the level. Today's break will have traders now looking at the 0.89782 as a risk level. Stay above is more bullish.  

On the topside, the 100 day moving average cuts across at 0.9017. That is the Next major target on the topside. The 50% retracement of the move down from the September high comes in at 0.90262. 

The USDCHF has not traded above its 100 day moving average since the end of May. Getting above it would be more bullish.
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