USDCHF sets up between technical levels in an up and down trading session

Technical Analysis

Author: Greg Michalowski | forex

Highs from last week are resistance above.  100 and 200 hour MA are support below

The USDCHF is setting itself up between technical levels in what has been an up and down session.


At the lows today, the 100 and 200 hour MAs at 0.9966 and 0.99704 have stalled the falls. A move below would be more bearish.  Right now the 200 hour MA has attracted buyers on two separate dips today.  

On the topside, there is resistance now at a topside trend line at 0.9993, but the real target for the bulls is at the 1.0000-1.0006 level. That area was a stout ceiling for the pair in last weeks trading. A move above would open the door for more upside momentum. 

Right now, the pair is between the levels at 0.9982 after bouncing off support.  The buyers are back in control, but the fight between support and resistance is ongoing.  


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