The USDCHF remains above the 100 day MA and 50% retracement. Key support at 0.8785.

The USDCHF is lower on the day in what has been an up and down trading week so far. The move lower is approaching the law from yesterday’s trade which bottomed near the 50% midpoint of the move down from the October high to the end of December low. That level comes in at 0.8785. Also near that level is the 100-day moving average and finally a swing level near 0.8782. That combination increases the levels importance. Staying above keeps the buyers more control. The 100-day moving average and 50% retracement are both key technical levels. Conversely, if the price were to move below, we could see buyers turn to sellers on the disappointment.

In this video I outline the technical levels in play and explain why.

This article was written by Greg Michalowski at Source