USDCHF hangs above the 200 hour MA

The USDCHF this week moved down on Monday, Tuesday, and Wednesday (3 straight down), consolidated up and down on Thursday, and corrected higher today.

The move to the upside today extended above the 100 day MA in the early European session, and corrected down to the 100 day MA one last time before heading higher.

That move higher has now taken the price above the 200 hour MA and 38.2% of the move down from the week’s high at 0.92387. Those technical levels have held over the last 4 hourly bars. Buyers have been leaning and keeps the buyers in control – at least intraday.

Having said that the 50% of the week’s trading range at 0.92593 is holding resistance.

So as the day moves toward the close, the pair seems to be setting up for next week. The aforementioned levels are the close support and resistance. How it plays out will be determined by the price action.