Somewhat predictable...
Earlier the USDCHF moved higher after the weak Euro data. That rally moved right up to the 100 hour MA and the 100 day MA which were more or less converged at 0.9968. The high reached 0.9969 and backed off.
The combination was bound to give traders (who are paying attention) a cause for pause. Its just a tough level to crack.
Add to that technical resistance a chance of a flight into the safety of the CHF as well (although weak EU and Germany is not going to help Switzerland).
Anything can happen, but we know that combo above was a good ceiling on the the look today.
On the downside, the 200 day MA at 0.99195. If the celiling is going to hold above, that level needs to be broken below.
