USDCHF higher on the day but finds resistance sellers against the “old” January 2024 high.

The USDCHF had an up-and-down trading day yesterday after extending to a new 2024 highs (above the January high at 0.8727). The low price stalled near a swing area at 0.8685 before basing and moving higher in trading today.

The run to the upside today moved back up to the January high at 0.87277 where sellers leaned against that level and have pushed the price down to yet another swing area at 0.87035.

So traders seem to be wandering up-and-down in between swing levels near highs for 2024.

Of note off the daily chart, is the low price yesterday and today also found support buyers against it broken 38.2% retracement of the move down from the October high to the December low. That level comes in at 0.86805. Staying above that level is more bullish.

This article was written by Greg Michalowski at Source