The USDCHF traded to a new 2024 high and in the process moved above a swing area high near 0.9146. The momentum faded and the price moved back to the downside.
Having said that, the decline has been modest. The price remains within a swing area between 0.9112 and 0.9146. Within that. It is a trendline on the hourly chart near 0.9123, and a corrective low at 0.9120. The rising 100-day moving average comes in at 0.9101 and would be another target to get to – and through – if the seller are to take more control.
This article was written by Greg Michalowski at www.forexlive.com. Source