USDCHF consolidates around key moving averages after jobs data ...Middle East

The convergence of the moving averages reflects the sideways price action seen over the past eight trading days. As shown in the red box on the chart, the pair has been confined to a narrow 138-pip range, with lows repeatedly forming near 0.8195 and highs capped at 0.8333.

Overall, a break outside the 0.8195–0.8333 range will be needed to clarify the next directional move.

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

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