USDCHF moves above its converged 100 and 200 hour moving averages at 0.9372 | Forexlive

The USDCHF has spiked higher after the more hawkish comments from Fed chair John Powell. The price has moved above the converts 100 and 200 hour moving average is currently at 0.9372. That level is now close risk for buyers. Stay above is more bullish. Move below, and there should be further corrective moves to the downside. Look for buyers to lean against the level.

The price has extended above a swing area between 0.9387 and 0.9393, but has stalled ahead of the 0.9400 level so far. A move above that level would have traders looking toward the falling 100 day moving average of 0.9426. The high price from last week reached 0.94395. Both those levels would be targeted on the upside.

Buyers are making a play. Stay above the 100 and 200 hour moving averages keeps those buyers in firm control.