USDCHF corrects to the break point earlier today. Can support hold? | Forexlive

Earlier today, the USDCHF ran higher and moved above a swing area between 0.8953 and 0.8959. Stay above that level would’ve been the best case scenario for the buyers looking for more upside. It was not meant to be. The price move back below the level.

However, another level is still in play that would potentially keep the buyers at least in play after the run higher over the last day or so of trading (since reaching the low early in the New York session yesterday). That level comes against the 200 hour moving average of 0.8934. The broken trend line is also near that level (just below).

If buyers are to keep in play, holding against this area is key. So far the low price has reached 0.89369 and buyers are leaning. It would take a move below to probably have the buyers throw in the towel and sell.