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Forex technical analysis: USDCHF tests key support level.

100 day MA/50% retracement

The of 100 day moving average is currently trading at 0.98066. The 50% retracement of the move up from the August 24 low comes in at 0.9792. The low for the day has come in at 0.98018. This area for the USDCHF is a key support area for today and this week. Be aware.

Looking at the hourly chart, the there has been trading below the 100 hour MA since the ECB Thursday on December 3rd. There is a topside trend line at 0.9864. The 100 hour moving average (blue line in the chart below) comes in at 0.9874. Those levels will be eyed on the topside for bullish confirmation in trading this week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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