USDCHF extends above it 38.2% retracement and 0.91615

The USDCHF has continued its run to the upside. The pair is up 10 of the last 11 trading days. That move has seen the price move from 0.88967 to the high price today of 0.91929.

Technically, the price today extended by the 38.2% retracement of the move down from the November 2022 high at 0.91615. That level is now close risk for intraday traders. Stay above is more bullish. A more conservative risk might be the high price going back to the end of May at 0.9146.

As long as the price remains above those levels, the buyers remain firm control.

Looking at the daily chart, the next target comes around 0.9225 which represents some noise going back to the end of March 2022.

This article was written by Greg Michalowski at Source