Name: USDCHF buyers are making a play. Can they keep the upside momentum going.
Uploaded: 2024-05-21T19:14:00.000Z
Description: The USDCHF held support at the 100 bar MA on the 4-hour chart and then moved above the 50% at 0.9105.

USDCHF buyers are making a play. Can they keep the upside momentum going.

The USDCHF held support at the 100 bar MA on the 4-hour chart and then moved above the 50% at 0.9105.

The USDCHF has had its upsa and downs today (and this week), with the buyers now making a play after holding support at the 100 bar MA on the 4-hour chart at session lows today. The ability to hold that support and them push above the 50% retracement of the May trading range, has given the buyers the upper hand as the day comes to a close.

Can they keep the momentum going? Can the buyers push through the high for the week at 0.91159 and look toward other upside targets?

When the price action is up and down traders need to focus in on the price action and look to anticipate the next move. The holding of the 100 bar MA on the 4-hour chart, the move above the 50% are two bullish plays. It's up to the buyers to continue that momentum going forward by getting to and through the next targets.