Categories: Business

USDCHF has fallen/risen. It is testing the 100/200 hour moving averages and finding sellers

Overall for the week, USDCHF was little changed with highs on Monday and Tuesday and the weekly low reached today on US employment volatility.

After hitting a new low for the week (and a new low for the year as well), USDCHF price rebounded higher, with the pair returning to the 200 and 100 hourly moving averages near 0.8467 and 0.84795.

A move above both of these moving averages would be needed to give buyers more control. Without that, sellers are still in control. On the downside, traders will be watching 0.84315 as nearby support. A break below this level and we should be looking at further selling.

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Rana Adam

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