After a sharp decline earlier in April, the pair found repeated support in the 0.8097–0.8128 region, ultimately forming a base after they failed break to April lows at 0.80389. That led to start of a rebound higher.
Yesterday’s price action saw a dip back below the 100-hour MA toward the 200-hour MA, but attempts to break lower lacked momentum. The pair has since settled into a narrow range between the two moving averages, with current price trading near 0.8227.
Traders will be watching for a decisive break from this consolidation zone. A move below the 200-hour MA would target support near 0.8097–0.8128, while a move back above the 100-hour MA would shift focus to the highs at 0.8318 and 0.8333, followed by the 38.2% retracement at 0.83505.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf consolidates between key moving averages after rebound stalls near retracement 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.
Read More Details
Finally We wish PressBee provided you with enough information of ( USDCHF consolidates between key moving averages after rebound stalls near retracement )
Also on site :