Overall for the week, the USDCHF is little changed with highs on Monday and Tuesday and the low for the week reached today on the US jobs volatility.
After trading to a new low for the week (and a new low for the year too), the price of the USDCHF has snapped back higher with the pair returning to the 200 and 100-hour moving average near 0.8467 and 0.84795.
It would take a move above both those moving averages to give the buyers more control. Absent that, and the sellers are still in the driver’s seat. On the downside, traders will watch 0.84315 as close support. Break below that level and we should take further selling.
This article was written by Greg Michalowski at www.forexlive.com.
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