USDCHF recovers to the 200 hour MA as fears subside

Technical Analysis

Author: Greg Michalowski | usdchf

200 hour MA tested

The USDCHF was hit hard on the dollar selloff earlier in the day. As some of the tariff fears subside, and the stocks rebounded, so has the USDCHF.

Helping the pair has been technicals.

At the low, the USDCHF moved down to the 50% of the move up from the February 16th swing low at 0.9338. That level was tested and held.  That was the invitation to buy/take profit. Risk could be defined and limited.

The move back higher has moved back to the 200 hour MA at 0.9383. The price has stalled over the last few hours against the level. As I type we are inching above the level (bullish).

Move higher and the 100 hour MA will be eyed at 0.9407. Earlier in the day, the MA was broken, then retested before moving lower again.  I would expect sellers to lean there into the weekend. 

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