USDCHF stalls near 200 hour MA for the 2nd consecutive day | Forexlive

The USDCHF moved to a new low on the dollar dip in the NY session today, and in the process, took a quick peek below the 200 hour MA at 0.92019.

The low price reached 0.9199 just below that MA line, and bounced. The price is up at 0.9210 currently.

Recall that the price low on Friday also stalled near the 200 hour MA (green line). As a result, the level remains a key risk and bias defining level for traders in the short term. Stay above is more bullish. Move below is more bearish.

On the topside the 100 hour MA at 0.92177 is the next upside target to get to and through for the buyers to take back more control.

Right now, with the price between the 100 hour MA above and the 200 hour MA below, the buyers can lay claim to the bias above the lower 200 hour MA, but the sellers can also claim the control being below the 100 hour MA (blue line). Clearly, there is a battle going on. The winner will be crowned when either the 100 hour MA is broken to the upside, or the 200 hour MA is broken the to the downside. Absent that, and the neither can fully claim control.

Stay tuned. Look for the break.

The weekend technical video, looks at all the major currency pairs vs the USD including the USDCHF .