The USDCHF has ping-ponged between the 200 hour MA below and the 100 hour MA above in the US session. The 200 hour MA comes in at 0.97726. The 100 hour MA comes in at 0.98155.
However, in the last few minutes the price has seen a dip below the MA level to a new session low at 0.97656.
Can the sellers keep the selling momentum going into the close for the week? The lows for the week near 0.9750 would be the next downside target to get to and through.
The GBPUSD is another pair testing a MA line. For it, the pair has been knocking on the 100 hour MA at 1.18648 over the last 4-5 hours of trading. The current price is at 1.18604 after reaching a high in the current hour at
This article was originally published by Forexlive.com. Read the original article here.