100 hour MA in the USDCHF comes in at 0.8887
The USDCHF has been toying with a corrective move above its 100 hour moving average over the last 3 trading days. On Wednesday, the price traded above the MA for 5 hourly bars. I was the 1st breach since December 1. Yesterday,the price briefly moved above during 1 hourly bar, but quickly reversed lower on it's way to a new multiyear low near 0.8851 (going back to January 2015).
Today the Asian session saw the price retest the low from yesterday, and find some buyers leaning. The last 6 trading hours has seen the price trade above and below the 100 hour MA line currently at 0.8887. Will the third time be the charm for the bottom pickers?
If the buyers hold and start to win the battle, the next key target would be the 200 hour moving average at 0.89173. That it is just above the Tuesday and Wednesday highs near 0.8914. Get above that area and there could be a move toward 0.8943 area, where the 38.2% retracement and the high from Monday are found.
Move back below the 100 hour MA should see the buyers bid to take control start to unravel, as the sellers remain more in control.
