The USDCHF spiked higher on Monday but then began a steady descent through Tuesday and Wednesday. Yesterday's low tested a key swing area between 0.8997 and 0.9011, where selling momentum slowed, and price action consolidated. In today's early Asian session, the price failed to break below yesterday's low, prompting a shift from sellers to buyers, leading to a move higher.
The price has now reached a swing area near 0.9058, serving as a short-term barometer ahead of key resistance levels: the 200-hour moving average at 0.9069 and the 100-hour moving average at 0.9081, which also coincides with the 50% retracement of the January 24 upswing. A move above these levels would strengthen bullish momentum.
For now, the current move appears to be a routine correction off support. Watch 0.9054 (the 61.8% retracement level) as a key threshold. Staying above this level supports continued upside probing, while a break below could reignite bearish momentum.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf rebounds after basing at swing area support yesterday today what next for the pair 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.
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