USDCHF moves up to test the 100 day MA

The USDCHF has pushed higher over the last three trading days after basing ahead of a swing area between 0.9081 and 0.91014 on Friday and again on Monday. The move to the upside has seen the price moved back above the 200 day MA at 0.91617 and move up to test the 100 day MA at 0.92127. The high price today reached 0.9215, just above that MA level. The price has backed off and trades at 0.9208 currently.

Needless to say, a move above the 100 day MA post the FOMC decision would be more bullish technically. IT would open the door for a test of the downward sloping trend line on the chart above at 09244. Move above the trend line, and the door opens further with the highs from January and December between 0.9277 and 0.9293 as the next targets.

Drilling to the hourly chart below, should the price move back to the downside, the 50% midpoint of the 2022 range (so for January) comes in at 0.91844. Below that, and traders will work down toward the 100 day MA at 0.91623, and the rising 100 and 200 hour MAs at 0.9158 and 0.91534.

USDCHF on the hourly chart