USDCHF tests 200 hour MA and finds sellers on the test. What next?

The USD is moving higher in the US trading today and helping to drag the USDCHF USD/CHF The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, Read this Term higher as well.

In the early European session the price traded above its 100-hour moving average, and then waffled around that level before basing against it and starting a rotation higher. That momentum to the upside was increased over the last hour or so of trading. The run higher moved up to retest the 200-hour moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term at 0.90008. Sellers leaned against that level like they did last Thursday and Wednesday as well. The price has rotated back down toward 0.8989. Going forward it would take a move above the 200-hour moving average to increase a bullish bias. Be aware.

What next?

With the price trading below the 100 and 200-hour moving averages, buyers and sellers are battling it out. There is interim support near 0.8969 – 0.89769. Watch that level for close support ahead of the lower 100-hour moving average of 0.89597. If it holds, a run back toward the 200-hour moving average, cannot be ruled out.