USDCHF tests MA levels on the hourly chart

Technical Analysis

Author: Greg Michalowski | usdchf

100 and 200 hour MA, trend line and 38.2% retracement on the hourly chart tested

The USDCHF has moved lower with the lower dollar today. 

100 and 200 hour MA, trend line and 38.2% retracement on the hourly chart tested
In the process the pair has recently moved below the 100 hour MA and a trend line connecting lows from April 1, April 9 and April 10.  It has been pressing on the 200 hour MA at 0.99979 (and the parity level). 

The battle rages as the selllers try to wrestle some control from the buyers.

PS the 200 hour MA stalled falls on April 3 and again on April 9th. As a result, it is not a surprise the market is trying to do the same thing today. 

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