USDCHF stays below 100 hour MA keeping the sellers in control (for now at least) | Forexlive

The USDCHF moved above its 100 and 200 hour MAs during yesterday’s trading but could not sustain the break above the higher 200 hour MA (green line).

The price rotated down toward support near the low of a swing area between 0.9383 and 0.9404. The price moved higher, extended back above the 0.9404, but stalled ahead of the 200 hour MA in trading today. The high price reached 0.9437. The 200 hour MA was just below that at 0.9435.

The buyers turned back to sellers against the key MA level.

The move lower in the NY session today, has seen the price will back below the 100 hourmoving average currently on 093917. The last two hourly bars has seen a high price of 0.9394 but that was quickly reversed. The current price is at 0.9377. That is back below the low of the swing area 0.9383. Sellers are making a play but need to stay below the 100 hour MA/0.9404 level to keep firm control.

On the downside, the lows from last week/Monday down to 0.93258 are the next targets to get to and through.