More bullish for the pair

The USDCHF made a break above the 100 day MA and the 50% retracement at the 0.9611 area (blue line and 50%). The break above the 100 day MA is the first break since early January. Stay above is clearly more bullish technically.

Although key levels have been broken, the 200 day MA looms above at 0.96573. That can be good or bad for the bulls.

A break is confirmation of the trend and should lead to more upside. The bad for the bulls/buyers is if the MA stalls the rally, the price can rotate back down on the failure to confirm the key break.

Right now we sit between the levels with the buyers in control.

PS. SNBs Maechler is on the wires saying:

  • Expansive policy is still needed.
  • Franc still considered a safe haven; pressure on the currency is still there.