USDCHF technical analysis: Key resistance at 0.8828–0.8848 caps upside for now ...Middle East

On the topside, the pair is now testing the 100- and 200-hour moving averages, which converge near 0.881–0.88225 area, serving as immediate resistance. The 200 day moving averages below that area and 0.88093. A move above this zone would tilt short-term momentum more in favor of the bulls.

Stay below the moving averages and the low of the swing area at 0.8794 would need to be broken to increase the bearish bias.

Key technical levels:

Resistance: 0.88225 (100/200 HMA), 0.8848 (swing area), 0.8862 (38.2% fib)

This article was written by Greg Michalowski at www.forexlive.com.

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