USDCHF rebounds but holds close resistance

Technical Analysis

Author: Greg Michalowski | usdchf

50% retracment stalls the rally

The USDCHF has rebounded off lows but the corrective rally in the NY session has stalled at overhead resistance.  That resistance comes in at 0.94199 to 0.94265.  The corrective high reached 0.94225. 

50% retracment stalls the rally
Drilling out to the daily chart, the low today did find support near the June low at 0.93757 and a swing low from March before the sharp move higher at 0.93895 (the low reached 0.93838). 
 
USDCHF on the daily chart held support

The hourly chart of the USDCHF shows key swing level resistance. The daily chart shows key swing level support.  The levels are defined. The market is looking for the next shove. 
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