USDCHF tests the 100 hour MA in an up and down session

Technical Analysis

Author: Greg Michalowski | usdchf

Run up to the 200 hour MA found sellers earlier in the day for the USDCHF

The USDCHF is another pair with the ups and downs today.

Run up to the 200 hour MA found sellers earlier in the day for the USDCHF
Looking at its hourly chart, the pair moved above the 100 hour MA in the Asian session, based against the level and moved higher (see blue line currently at 0.98938). The run higher, took the price to a session high at 0.9918 which was just short of its 200 hour MA.  

The more recent tumble back lower returns back to the point of the base at the 100 hour MA at 0.9893.

Ups and downs. 

The price action seems to be in step with the stocks/yields.  

The US stock market is back lower with the major indices giving up their earlier gains.   US yields are also lower with the 10 year yield now down -3.44 bps at 1.7826%.  The combination is helping to weaken the USD and help lead to the flight back into the relative safety of the CHF.  
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