USDCHF rally stalls at key Fibonacci resistance after Trump-Powell boost ...Middle East

This comes after USDCHF was the first major pair to move back above its 200-hour moving average on Tuesday—a technically bullish signal that held through yesterday's end of day.

Buyers had a few days of corrective price action. The 38.2% target was tested, and held. The price did it's ABCs but only that on the correction. Sellers still in play but being above the 100/200 hour MAs give the buyers hope too.

Resistance: 0.82809 (38.2% retracement)

Buyers had their shot off lows

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

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