Test 61.8% retracement
The USDCHF is trade to new session high and in the process is testing the 61.8% retracement of the range since December 7 at 0.88985 and the natural resistance at 0.8900. A move above would have traders looking toward the swing hi from December 11 at 0.8908, the swing hi from December 9 at 0.8914 and the high from yesterday's trading at 0.89184.
On the downside, close support comes in at the midpoint since December 7 at 0.88839. The price has stayed mostly above that level over the last 3 hours of trading. Move below that level and there could be more downside probing on the limited upside after the new session highs.
