Technical Analysis

USDCHF tests MA levels on the hourly chart

100 and 200 hour MA, trend line and 38.2% retracement on the hourly chart tested

The USDCHF has moved lower with the lower dollar today. 

In the process the pair has recently moved below the 100 hour MA and a trend line connecting lows from April 1, April 9 and April 10.  It has been pressing on the 200 hour MA at 0.99979 (and the parity level). 

The battle rages as the selllers try to wrestle some control from the buyers.

PS the 200 hour MA stalled falls on April 3 and again on April 9th. As a result, it is not a surprise the market is trying to do the same thing today. 


Articles You May Like

BRL, Ibovespa Outlook for 2019: Pension Reform, Global Growth in Focus
AUDUSD traders will come back with the pair below the 100 day MA
US equity futures point to softer open in post-Easter trading
China’s March trade surplus revised slightly higher to $32.67 billion in dollar terms
Simple Approach to Growing a Small Forex Trading Account from $100 to $2,000

Leave a Reply

Your email address will not be published.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