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USDCHF buyers try to take more control. 100 hour MA and 38.2% the next key targets.

January 27, 2024 by admin 0 Comments

The USDCHF has moved higher in trading today and in the process technicals have improved:

The low yesterday held against it to her poor moving average on 4-hour chart (currently at 0.8608)
Today, the price low stalled against a rising trend line
The price is currently above it to 200-hour moving average at 0.86492

What needs to be done, however, is to get above it 100-day moving average at 0.8672, and also the 38.2% retracement of the move down from the October 2023 hi. That little comes in at 0.8680.

Get above both those levels and the bias increases more to the upside it in favor of the buyers.

Find out all these details in the video above.

This article was originally published by Forexlive.com. Read the original article here.