Market data chart with calculator
Markets

Forex technical analysis: USDCHF trades at session highs.

Tests target resistance

The USDCHF has been moving higher with the overall bullish dollar momentum today. The pair is trading at session highs but is testing the underside of the broken trend line at the 0.9667. The high price has reached 0.9665.

Key test for the pair as the pair rebounds.

In trading yesterday, the pair did find support between the last two session lows. Late yesterday and in the Asian Pacific session the 100 hour MA held support as well (see chart below - blue circles). That seemed to jump start the upside in trading today. For the London session - and into the NY session - that trend has continued.

In the last push to the resistance target, the price moved above resistance at the 0.9658 level. This is now close support should the topside sellers against 0.9667 keep a lid on the pair (see chart below). A move back below that level takes some of the bullishness out of the move higher today, but I would still expect dip buyers in the 0.9640 area on the first test.

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.

Other Topics

ForEx

Latest Markets Videos