USDCHF finds willing sellers near week highs, moving averages and key swing area

Technical Analysis

The USDCHF has moved back toward the high for the week, and in the process is retesting a swing area between 0.9087 – 0.90978, and converged 100 and 200 bar moving averages on the 4- hour chart at 0.90915.

The high price installed near 0.90978, and the price has rotated back lower and below the aforementioned target resistance area. Stay below the 0.9087 – 0.90978 area keeps the sellers in play. Going forward it would take a move above that area to increase the bullish bias.

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