The USDCHF slipped modestly following the release of U.S. housing data, with the decline pushing the pair back below the 200-hour moving average and a key swing level near 0.81696 (see green line and red-numbered circles on the chart). This area now stands as a key intraday barometer for the pair.
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.
On the topside, a sustained move back above the 0.8169 zone would open the door toward the next resistance levels at 0.8191 and 0.8212, followed by the 38.2% retracement of the May high-to-low move at 0.8216.
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.
Support levels:
0.8146–0.8155: Prior swing lows/highs; holding as intraday floor
0.81286: 100-hour moving average
0.8100: Psychological level and prior low area
Resistance levels:
0.81696: 200-hour MA and key swing level (red circles)
0.8191: Prior swing high
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
Finally We wish PressBee provided you with enough information of ( The USDCHF trades above and below the 200 hour MA/swing level )
Also on site :