The downside move has brought price back to the closely converged 100-hour and 200-hour moving averages, currently between 0.8824 and 0.8827. That zone is now acting as short-term support. Traders are testing that area at the moment, and the next move will help define near-term direction.
Key scenarios:
? A break below the 100/200-hour MAs would shift the bias back to the downside, targeting the 200-day moving average at 0.8808 and the key swing low zone between 0.8794 and 0.8799.
With price compressing between well-defined support and resistance levels, a breakout appears likely — and traders should be alert for momentum signals in either direction.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( USDCHF trapped in a tight range as moving averages come under pressure )
Also on site :