Earlier in the session, the price found buyers near a support zone defined by prior swing highs and lows between 0.8146 and 0.8155. That area remains a key support floor. A break below would likely tilt the bias back to the downside, with the 100-hour moving average (blue line) at 0.81286 emerging as the next key target.
With the Federal Reserve's rate decision looming this afternoon, traders will be watching closely to see whether the USD gains enough traction to break above these near-term resistance barriers—or whether sellers once again defend the 0.8169 swing level and reassert control.
0.8146–0.8155: Prior swing lows/highs; holding as intraday floor
0.8100: Psychological level and prior low area
0.81696: 200-hour MA and key swing level (red circles)
0.8212: Next upside target
0.8216: 38.2% retracement of May high-to-low decline
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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