Back above the 0.9900 level
The USDCHF has corrected higher in an upward channel since bottoming on Friday. The lows today tested and re-tested the lower trend line. That lower trend line comes in at 0.9895 (and moving higher). A move below the trend line would weaken the corrective.
What may also stall the rally is topside resistance defined by the 50% retracement of the move down from the October 15 high. That comes in at 0.99164. The 200 hour MA (green line) is moving toward that 50% retracement level (it is at 0.9918 now). When the 50% and the 200 bar MA converge, it tends to be a tough nut to crack.
