USD/CHF Breaks Back Above 200-Day Moving Average

In what has been tumultuous session for the USD, we see some interesting technicals coming into play for the USD/CHF pair. Looking at a daily retracement analysis for the pair from the 3/17 lows to the 11/21 highs, we see the pair had broken south of the 61.8% retracement level as the Euro rallied, only to break back up as enormous Euro selling came back on the table. It will be important for the pair to close above the 200 day moving average, which could lead back to the 50% retracement level before we hit 2009.

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