Bulls remain in charge.
The USDCHF bottomed near the opening of the week on Monday.
The price moved above its 100 and 200 hour moving averages on Tuesday.
On Wednesday and again on Thursday, those moving averages helped stall falls.
Yesterday, the price trended higher and today, we are saying an extension above last week's high at 0.98767.
In the NY mornign session today, the price corrected down toward the swing highs from last week and yesterday at the 0.98744-767, and found buyers near that area (the low reached 0.9872). Holding near that level kept the bulls in control. The price has moved to new session/week highs. It trades at the highest level since August 2.
What next?
If the bulls keep the charge going, the 0.99137 level is the next target. Above that is a channel trend line at 0.9920 and the 100 day MA at 0.99392. The 200 day MA is at 0.9950. The daily MAs would be nice targets for the pair going forward.
What would hurt the bullish run?
It would now take a move back below the 0.98744-767 area (and stay below), to start to ruin the bullish run seen in trading this week (really below the 0.9872 NY low). That would be the minimum that the sellers would have to do to take "some" control back from the buyers.
