First move above since Jan 23
The USDCHF is breaking above its 100 hour MA at 0.9323. The price has not been above the 100 hour MA since January 23rd. On the move higher, the price also moved above a trend line at 0.9308. That level is a risk level for longs now. Stay above and the buyers are taking back more control. Move below and the dollar buyers will be discouraged.
The USD is stronger after the employment report but the stocks are looking weaker into the opening. The threat of higher rates - more Fed tightenings - is weighing on equities. That could see the "flight into the safety of the CHF" trade. However, the pair has been trending lower of late and trades at the lowest level since 2015. In fact the low today at 0.9250, was very close to the low from August 2015 at 0.9256. That would be a nice technical bottom.
