Technical Analysis

USDCHF keeps the 100 hour MA as a ceiling

A move above the 100 hour MA is needed to give the buyers more control.

The USDCHF is higher on the day, but apart from a 3 pip break above that quickly failed, the 100 hour MA (blue line in the chart below) has been able to stall the rally. That MA comes in at 0.9915. The current price is down at 0.98937. 

Needless to say, if the pair is going higher breaking and staying above the 100 hour MA is needed.

On Friday before the US employment report, the pair squeeze above the 100 hour MA but tumbled below on the weaker data. 

On Thurday, there was a brief move above the MA, but the 200 day MA at 0.99598 stalled the rally not far from the 100 hour MA.  

If the 100 hour MA is broken, the trend line at 0.9929, the 38.2% at 0.99466 and then the 200 day MA and 200 hour MAs (moving lower) will be eyed at 0.99598 and 0.9968 respectively). 

ForexLive

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