USDCHF spiked higher as headline-driven volatility sent yields and the USD surging. However, the upside move met resistance, with price stalling just below the falling 100-hour moving average at 0.86736. The high reached 0.86678, narrowly missing the MA level before rotating back lower. That rejection reinforces the importance of the 100-hour MA as a key resistance level to watch going forward.
On the downside, the 4-hour chart highlights a support swing area between 0.85309 and 0.85570 (see red numbered circles on the chart below).
Between these broader levels lies a key mid-range zone defined by the 38.2% retracement and a secondary swing area between 0.86078 and 0.86190. This area will act as a barometer for short-term directional bias (see blue numbered circles on the 4-hour chart).
Buyers took there shot, but stalled the rally. So buyers and sellers are now in a battle.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf spike stalls at key moving average resistance and backs off 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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