The downside move has brought price back to the closely converged 100-hour and 200-hour moving averages, currently between 0.8824 and 0.8827. That zone is now acting as short-term support. Traders are testing that area at the moment, and the next move will help define near-term direction.
Key scenarios:
? A break below the 100/200-hour MAs would shift the bias back to the downside, targeting the 200-day moving average at 0.8808 and the key swing low zone between 0.8794 and 0.8799.
With price compressing between well-defined support and resistance levels, a breakout appears likely — and traders should be alert for momentum signals in either direction.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf trapped in a tight range as moving averages come under pressure was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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