Near unchanged on the day
The USDCHF has had an up and down and up again day so far. The pair trades at 0.9732. The close from yesterday was at 0.9737.
Looking at the hourly chart above, the low price for the day did find some good support and bounced. That low came in at 0.9710. It based right near the 200 hour MA (green line) and 100 hour MA (blue line). Dip buyers leaned against the level and took the price back higher.
So is the bottom in place?
I would be more confident if the price could extend back above the close from yesterday (there is something about being higher vs. lower on the day) and the 50% retracement near the level at 0.97382 (of the move down from the December 24 low).
If that could happen, it should give more of a boost to the buyers/longs and tilt the intraday more to the upside technically.
