Breaks above a trendline at 0.91808
The USDCHF is trades at highest level since July 27 (tests that level now at 0.91863). The move to the upside is cracking above a hours open trendline connecting highs going back to July 7. The buyers are to take more control.
On a move above 0.91863, the traders will start to look toward the 0.9200 area. There our a number of swing lows and highs between 0.9199 and 0.92026. Get above that area and it opens the door for a run toward 0.9220 area (another swing area).
Drilling to the five minute chart below, traders have done a good job of leaning against the 200/100 bar MAs (green and blue lines). Risk was defined and limited and it has paid off with a move to the upside.
Going forward if the price can stay above those moving averages (currently at 0.91632 and 0.91575 and moving higher), the buyers remain in control. Move below and the we should see further downside probing.
