USDCHF technicals: The USDCHF makes a break above the 100/200 hour MA (38.2% retracement) ...Middle East

The next upside target is the ceiling from last week’s trading near 0.80893. A break above this resistance would open the door for further bullish momentum. Yesterday’s sharp dollar selloff drove USDCHF below the 50% retracement toward the support zone between 0.8017 and 0.80233, where sellers stalled and the market began to rebound.

With today’s push back above the confluence of technical levels between 0.8071 and 0.80756, buyers have taken control, shifting momentum firmly in their favor.

This article was written by Greg Michalowski at investinglive.com.

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