USDCHF trades in a narrow trading range and awaits the next shove. Buyers making a play.

Technical Analysis

The USDCHF trade in a narrow range to start the North American session (only about 24 pips which is less than half of what is normal) however the price is back above its 200 hour moving out at 0.89641. If the price can stay above that level and then extend above the 38.2% retracement of the move down from the May 22 high at 0.8986, the buyers can probe higher.

Conversely, a move back below the 200-hour moving out would be an invitation for the sellers to jump back on (and for the buyers to get disappointed).

Articles You May Like

USDCHF moves toward low of trading range since mid-December
Gold Price Today: Yellow metal holds firm at higher levels, opens at Rs 85,077/10 gms
Geoplitics: UK Starmer: Future of Ukraine is and existential issue for Europeeop
White House nat sec advisory Waltz: Zelensky needs to return to table on critical minerals
RBA’s Cautious Easing Leaves AUD Supported, USD/JPY Ready for a Bounce?

Leave a Reply

Your email address will not be published. Required fields are marked *