USDCHF reaches to new week highs

Technical Analysis

The USDCHF runs higher today after holding support at the 200 hour MA and trend line

The USDCHF has reached to new week highs in what has been a down and up session.

The key for the pair was on the downside when the pair tested and held support at the 200 hour MA (green line) and just ahead of channel trend line support.  The ability to hold that level has led to a string of higher bars.  The last bar reached up to 0.9938.  

The pair is testing the 61.8% of the move down from the October 15 high at 0.9935. If the momentum does continue, the topside trend line at 0.9943 would be the next key target. Above that, sits the 200 day MA at 0.9953.  

The USD is seeing some strength on reports that US/China trade calll went well. Stocks are also near session highs.  


Leave a Reply

Your email address will not be published. Required fields are marked *