On the hourly chart, the price is now approaching the 100-hour moving average (0.9021). Yesterday, the pair tested this level but failed to break higher into the close. During today's Asian session, the price moved above the 100-hour MA and found support. This level now serves as a key short-term barometer for traders.
Bullet Point Summary:
USDCHF bottomed last week within a swing area between 0.8965 - 0.8974, with a low at 0.8971.Price trended higher, reaching a corrective high of 0.9051 today.Weaker U.S. housing starts (-9.8%) triggered a pullback, bringing the price to 0.9024.100-hour moving average (0.9021) is a key level—price tested it yesterday but stalled.During the Asian session, price moved above the 100-hour MA and held support.Above 100-hour MA → Buyers remain in control with further upside potential.Below 100-hour MA → Sellers take control, increasing downside momentum. This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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