The 100 hour MA and swing area at 0.9761-659 is the barometer for bulls/bears today
The USDCHF moved up to test its 100 hour moving average at 0.97628, and has found sellers against the level for the 2nd time today. Early in the day the price also tested that level and moved back to the downside.
The 100 hour moving averages joined by swing levels between the 0.97613 and 0.97659. If the pair can stay below that level, the sellers would keep some control despite the trend dish moved to the upside over the last 7 or so trading days. If the price moved back above those levels, we could see a resumption of the upward momentum with the swing hi from yesterday at 0.97881 the next target.
The 0.97613 – 659 is setting up as a key barometer for both the bulls and the bears today and going forward.
