USDCHF traders make their run to the 100/200 hour MAs | Forexlive

The USDCHF is not immune from the USD buying today. It is just not the most USD bullish.

For it, the price based above the low extreme from Friday. The low from Friday reached 0.9325. The low today reached 0.9329.That gave buyers the go ahead to push higher.

The run back to the upside has seen the price move to a high that is lower than the high from Friday (so far at least). The high from Friday reached 0.94387. The price high today comes in at 0.9425.

So it is an inside day so far as far as the price action. A small positive is the price is above the close from Friday at 0.9366.

On the topside, the pair is finding sellers near the 100 hour MA(blue line). That MA comes in at 0.94252, right near the high for the day. Above that, and the 38.2% of the move down from the November 21 high cuts across at 0.9429 and the falling 200 hour MA comes in at 0.9438.

Those levels represent the minimum targets to get to and through if the pair is to continue the corrective action in the pair today and going forward. Stay below, and the correction is nice but the sellers are still more in control.