Buyers and sellers are battling it out in the USDCHF. There is resistance between 0.8805 and 0.8819. The high price today stalled within that area. On the downside, the USDCHF is back down testing another swing area between 0.8779 and 0.8782. Move below that level and then the 100-hour moving average of 0.8772 and the 200-hour moving average of 0.87606, and the sellers are back in control.
Absent that and the nod still goes to the buyers.
This article was written by Greg Michalowski at www.forexlive.com. Source