USDCHF continues the ups and downs that has dominated the last two weeks of trading.

The USDCHF is higher on the day, and in the process has moved back above its 200-hour moving average 0.90416 and 0.90471.

Those two moving averages are near the middle of what has been an up-and-down train rage over the last 9+ trading days (around two weeks). That range has seen the price of trade between 0.8998 and 0.90949 (around 100 pips). That is not a lot of range for that period. Clearly, the market is “buying time” until the next shove (higher or lower).

The good news for the buyers is that support held at the low of that trading range on Friday. Buyers leaned on the dip. Also, getting above the 100 and 200-hour moving averages is an additional tilt to the upside from the price action today.

However, the price needs to stay above those two moving averages to keep that “tilt” in the favor of the buyers. Be aware. .

In this short video, I outline the close risks and the targets for the buyers now and also what would happen if the buyers cannot keep the control.

This article was written by Greg Michalowski at Source