USDCHF tests it’s 100 hour MA and swing lows from Friday/Monday | Forexlive

The USDCHF has had a volatile up and down and back up day today with the market reacting to the Fed, SNB and then ECB too (and overall USD buying).

The pair bottomed earlier in the day near the lows from Tuesday’s trading, based, and started the run back to the upside which has now retraced the declines from the Europe morning highs.

In the process, the pair is also testing the 100 hour MA at 0.9307 and the lows from last Friday and Monday at 0.9311. The high just reached 0.9311. A move above has an old trend line at 0.93179 as another target to get to and through to increase the bulllish bias for the pair.

Looking at the daily chart below, the USDCHF fell back into a consolidation area that for the most part confined the USDCHF between 0.9081 to 0.9382. On the topside, there is a swing area between 0. 9357 and 0.9382.