The USDCHF has been a trending to the upside in trading today. The pair in the Asian session moved above both its 100 hour 100 day moving averages near the 0.9200 area (see dual blue lines in the chart above). The next step was a swing area between 0.9217 and 0.92254. The pair consolidated near that area before basing in moving higher over the last few hours.
The 38.2% retracement of the move down from the November 24 high at 0.92398 and the falling 200 hour moving average at 0.9244 is the next upside target's. That 200 hour moving average is currently being tested as I type. Get above that level and the door opens for a further move toward 0.9252 followed by the 50% retracement and swing high from last Tuesday at 0.9265 area. The high price last week reached 0.92723.
