USDCHF bounces from key support and tests overhead resistance ...Middle East

Today, the pair is moving modestly higher and is now testing a higher resistance zone — the swing area between 0.8272 and 0.82803. This level has been a recurring pivot in recent weeks (see red circles), with both buyers and sellers using it as a battleground. A break above this area would open the door toward the 100-hour MA (blue line currently near 0.8308) and the 38.2% retracement level of the May range at 0.83087.

Key levels to watch:

Resistance: 0.8272–0.82803 (current test), 0.8308 (100 hour MA, and 38.2% Fib), 0.83509 (200-hour MA)

The pair is at a pivotal juncture — the response at current levels will help define the next directional bias.

This article was written by Greg Michalowski at www.forexlive.com.

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