New session highs for USDCHF


USDCHF

USDCHF traded higher and lower in a consolidation range today. Sideways price action was able to rally sideways above the 100 hourly MA (blue line) which was catching up with price action after last week’s sharp drop. Yesterday’s higher than expected CPI pushed price towards that MA line yesterday, but selling off that high was somewhat contained, stopping short of a swing zone near 0.9576 (see blue circles).

Today’s lows and highs were confined to near a swing zone low at 0.9591 and the 38.2% and swing high from Friday and Tuesday all close. from 0.9528 to 0.9533.

Currently. the price is making a new high just above the 0.9533 level. Buyers play. The conservative risk for longer looking longs is the 100 hour MA. The 50% at 0.9574 is the next target with the 100-day MA at 0.96905 and the 200-hour MA falling at 0.96989 as other targets to hit and break through.


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