The USDCHF moves above its 100 and 200 day MAs for 1st time since November. Buyers control

The USDCHF has moved above its 100 and 200-day moving averages for the first time since November 2023. That puts the buyers more in control. The 100-day moving average is at 0.8807. The 200-day moving average is at 0.88462. In between sits a swing area between 0.8819 and 0.8838. As always a price remains above those levels, the dollar buyers are more in control.

On the topside the next target comes in against the 61.8% retracement of the move down from the September pie. That level comes in at 0.88957. That level corresponds roughly with other swing levels going back to swing lows in September and October and swing highs in November. The natural resistance at 0.8900 is also near that level.

This article was written by Greg Michalowski at Source