The USDCHF is trading to a new session high and in the process is cracking above the top side of a swing area between 0.9591 and 0.96046. Stay above 0.9591 would keep the buyers more in control going forward. The next excitatory comes against the 50% retracement of 0.96276. Above that is the 100 day moving average of 0.96471.
The price moved above the 100 day moving average back on August 3, August 4, August 5 and again on August 6, but could not sustain momentum above those levels, and closed each day below the moving average. A close above would be more bullish.
As I type, the price is already moved up to test the 50% retracement. Risk remains a move below the aforementioned swing area between 0.9591 and 0.960464 traders looking for more upside. Traders who want to take a shot against the 100 day moving average would need to see the price stay below that level to keep their hopes alive.
