Technical Analysis

USDCHF tests 200 hour MA for the 2nd time today

Pair has been trading between the 100 and 200 hour moving average over the last six hours 

Traders are pushing the USDCHF back up to retest its 200 hour moving average at the 0.97633 level. That moving average was tested earlier in the day on the initial run higher. Since then, the pair retested the 100 hour moving average at 0.9729 and a broken trend line at that level as well, and bounced. 

 

A move above the 200 hour moving average would have traders target the 38.2% retracement of the move down from the August 1 high. That level comes in at 0.97796.  Above that is a swing area between 0.97867 and 0.97967. That area has swing levels from August 5, August 6, August 7, and August 8

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