USDCHF under pressure as Moody’s downgrade weighs on dollar; key support holds ...Middle East

From a technical perspective, Friday’s rally attempt failed to hold above the 100-hour moving average (blue line), and sellers have since taken the pair below the 200-hour moving average (green line) at 0.83496. That level now acts as close resistance.

Key levels:

Support: 0.8318–0.8333 (swing area), then 0.8272 to 0.8280 (swing area)

Momentum favors sellers, but watch the 0.8318–0.8333 floor for signs of a shift.

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

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