The 200 hour MA at 0.9191. The high reached 0.9197
The USDCHF followed the EURUSD's break with it's own to the upside. The pair moved above its 100 hour MA earlier in the European session but stalled near the highs from yesterday at 0.91833. The last hourly bar, however, ran higher and in the process moved above the 200 hour MA at 0.9191. The price also extended above the 38.2% at 0.91949 (of the move down from the September 25 high). That is the good news for the buyers.
The not so good news for the buyers is that the pair could only make it to 0.9197 putting the break in jeopardy.
The pairs price has dipped down, but so far has been able to stay above the swing high from yesterday (and swing high from October 5 as well - see red numbered circles) at the 0.91833 area. Stay above, and the buyers hold some control. Move below and we could/should see those buyers giving up on the break.
On the topside, the price has to get back above the 200 hour moving average at 0.9191 to give more confidence to the buyers.
