Forex
Home›Forex›Major Pairs›USDCHF whipsaws as sellers cap rallies near key moving…
USDCHF whipsaws as sellers cap rallies near key moving averages
After swinging from 0.8151 back toward 0.8033, the pair is again testing the 0.8060 to 0.80699 support zone while trading below the 100-hour and 200-hour moving averages.
The USDCHF has been volatile but largely directionless this week, with sharp moves in both directions and little net progress, according to Forexlive.
In Tuesday’s Asian-Pacific session, the pair jumped above the June high at 0.81392 and extended to 0.8151, before reversing. Sellers then pushed it down to 0.8033, just above last week’s low at 0.8030, before buyers attempted rebounds into midweek.
Wednesday’s recovery brought the price back above the 0.8060 to 0.80699 swing area, but it stalled near the 100-hour moving average around 0.8091 as selling returned. Today, the decline again found support within 0.8060 to 0.80699 as price slipped back below both the 100-hour moving average near 0.8091 and the 200-hour moving average around 0.8083.
Forexlive said the technical picture still leaves sellers with a slight edge while the pair remains below the key moving averages. A drop through 0.8030 would aim at the next swing area near 0.8009, while buyers would need to reclaim 0.8091 to shift momentum toward resistance levels including 0.8119, 0.8139, and 0.8151.