The USDCHF moved lower during the Asian-Pacific session, briefly breaking below a lower swing area between 0.7938 and 0.7947. However, downside momentum quickly faded, and the price rotated back higher. On the rebound, sellers stepped in near another key swing area between 0.7986 and 0.7994, capping the move with a high of 0.7984 before the pair turned lower again.
That 0.7986–0.7994 zone remains the key barometer for short-term control. Staying below keeps the sellers in command, while a decisive move above would shift the bias back to the upside and open the door for renewed bullish momentum.
This article was written by Greg Michalowski at investinglive.com.