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USDCHF tests the 200-hour moving average and rebounds toward 0.8050

The currency pair’s rebound has been supported near 0.8007, and holding above the 100-hour moving average would be needed to keep the short-term bullish bias.

Reported · Written up by our desk · Major Pairs

Forexlive reports USDCHF is testing the 200-hour moving average and the broken 38.2% retracement near 0.8050 after buyers defended a support cluster around 0.8007.

The low traded at 0.8007, sitting between the prior swing area that extends down to 0.8009 and nearby levels tied to the rising 100-hour moving average and the 50% retracement near 0.8000.

Forexlive says the rebound has pushed USDCHF toward resistance near 0.8050, where a falling 200-hour moving average and the broken 38.2% retracement sit.

The outlet notes that clearing and holding above 0.8050 would strengthen the short-term bullish bias, while rejection could pull price back toward the 100-hour moving average, which it calls the key support level for buyers.

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