USDCHF Rotate Back Toward Its 200 Hour Moving Average

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has rotated back toward its 200 hour moving average. That moving average currently comes in at 0.91885. Earlier in session the price moved above that moving average level for the 1st time since July 17. We should see support buyers against that moving average level with stops should the price starts to trade more comfortably below the moving average level again.

200 hour MA at 0.91885_

Early in session, the price did get above a ceiling area at the 0.9225 – 29 area on its way to the session high at 0.92401. However momentum quickly faded and the price moved back below that swing area and the retest of the 200 hour moving average.

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