The USDCHF has fallen after better US CPI data,but found support buyers against a key swing area between 0.8880 and 0.88916. The price also fell below the 200-day moving average at 0.8896. The price has since bounced higher. Going forward, it would take a move below the 0.8880 level to add to the bearish bias.
On the topside, the broken 100-day moving average comes in at 0.89469. Getting above that level and staying above that level is needed to increase the bullish bias and disappoint the sellers today.
This article was written by Greg Michalowski at www.forexlive.com.
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