The USDCHF has been trading up and down in a consolidating range today. The sideways price action has been able to sideways its way back above the 100 hour MA (blue line) which was catching up to the price action after the sharp fall lower last week. The higher than expected CPI yesterday, pushed the price to that MA line yesterday, but the sell off off that high was somewhat contained, stalling ahead of a swing area near 0.9576 (see blue circles).
Today, the lows and highs have been confined to near a low of a swing area at 0.9591 and the 38.2% and swing high from Friday and Tuesday all near 0.9528 to 0.9533.
Currently. the price is ticking to a new high just above the 0.9533 level. Buyers are making a play. Conservative risk for longs looking for more is the 100 hour MA. The 50% at 0.9574 is the next target with the 100 day MA at 0.96905, and the falling 200 hour MA at 0.96989 as other targets to get to and through.
