Breaking away from the 100 and 200 day MA
Yesterday, the USDCHF moved above the 100 and 200 day MAs at 0.9878 and 0.9890 respectively (see post here). The rise yesterday did stall at the most recent swing high from January 4th, but the correction off that level stalled both yesterday and today right at the 200 day MA (see hourly chart below). That hold gave the buyers the go ahead to take the price higher.
Today, the price rise has now taken the price above the high for the year at 0.99192 and a topside trend line (currently at 0.9924). Stay above and the next target comes in at the Dec 27 high at 0.99629 and then the parity level at 1.0000.
