200 hour MA and 50% above. The 100 hour MA below.
The USDCHF is yet another up and down traded currency pair today. It is stuck in the up and down mud.
The price action has seen sellers near its 200 hour MA and 50% retracement at 0.9687 currently, and buyers near its 100 hour MA (currently at 0.9664). The price currently trades at 0.96786 between the two extremes.
The same trading rules apply to this up and down pair.
- Move above to 200 hour/50% (at 0.96869) = more bullish
- Move below the 100 hour MA (and low for day at 0.96604)= more bearish.
- Traders who are trading the range (leaning against resistance and against support), will likely look to exit with more momentum below or above those extremes.
For now the pair is stuck in the mud with buyers and sellers battling it out