Ping ponging between MAs
The USDCHF is down testing the 100 hour MA (well now ticking below it) at 0.91376. Earlier in the day, the price stalled just ahead of that MA line and bounced higher.
The high in the Asian and NY session used the 200 hour MA (green line) to stall the rallies.
So the pair has ping-ponged it's way up and down and up again and now down again.
The pair is currently trading below the 100 hour MA. Are the sellers making the play to the downside? Traders/sellers are making a play for control after the buyers failed to take control on their shots at the 200 hour MA above.....
