Floor at 0.88478 to 0.88513
The USDCHF moved higher with the dollar on the initial reaction from the Fed and in the process moved above the 200 hour moving average at 0.88816. The price also extended above a topside trend line on the hourly chart below.
The subsequent fall as stocks reverses higher and the dollar started to go back lower, has now push the price back to the swing lows going back to December 10, December 11, December 14, December 15 and again today. That swing area comes between 0.88478 and 0.88513. The price just stalled between that area.
Traders will look toward that level for clues - along with the 100 and 200 hour MAs above (blue and green lines). That keeps the story the same from before and after the FOMC decision.
