The USDCHF continued to respect key technical levels in early Tuesday trading, as the pair once again found support at the 0.8193–0.8212 swing area. The zone, which had provided a base earlier this month (and into the end of April), attracted buyers again after a brief dip below it during the Asian session quickly reversed—similar to the price action seen on May 7.
Momentum carried the pair higher through the 100-hour moving average (MA) at 0.8239, a level that had capped upside just last Thursday. The move above now turns that MA into a near-term risk level for bullish traders. Staying above keeps the buyers in play. Moving below would be more bearish technically.
Looking ahead, the key resistance area comes in between 0.8272–0.8280 (see red numbered circles). That level stalled the rally in trading today after a brief break above the downward sloping trendline (currently below that level and moving lower).
A break above this zone would increase bullish confidence, with the 200 hour moving average at 0.82871, and the broken 38.2% retracement at 0.8308 as the next upside targets.
USDCHF – Support and Resistance Levels
Support Levels:
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0.8239: 100-hour moving average; now a near-term risk level – staying above keeps the bias more bullish
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0.8193–0.8212: Key swing area; price bounced here multiple times including today and back on May 7
Resistance Levels:
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0.8272–0.8280: Prior swing area; stalled the rally after breaking the trendline earlier today
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0.8287: 200-hour moving average – next upside target if the swing zone breaks
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0.8308: 38.2% retracement of the broader move – a break here would add bullish confirmation
These levels define the current technical battle lines for USDCHF, with buyers defending support and sellers leaning on layered resistance.
This article was written by Greg Michalowski at www.forexlive.com.