USDCHF Reverses Up To Its 100 Day Moving Average And Stalls

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The USDCHF found earlier support against its 100 hour moving average and bounced. Earlier a swing area and 200 hour moving average stalled the rally. A move above the 200 hour moving average was needed to kickstart more upside momentum.

100 day moving average at 0.9716

That is what happened and the price extended up to its 100 day moving average at 0.9716 before finding willing sellers against the key risk defining level. With risk limited, sellers leaned and the prices has since moved back down and currently trades around the 0.9700 level. 

Below, the swing area comes in at 0.96846-89. The broken 200 hour moving average comes in at 0.96797. It will take a move below each to tilt the bias back to the downside intraday on the failed break higher. Stay above and the buyers hold a little the intraday advantage.



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