USD/CHF Moves Back To The 1.0188 Key Level

The USDCHF moved below the 1.0188 level  today on its way to new lows at 1.0165.  The 1.0188 level was the low price for 2009 reached on September 23rd.

The next low target for the USDCHF is the 1.0136 level which is the low price going back to July 22nd 2008.  There are other low values at that area that occurred during July 2008. I would expect buyers against this key technical support level going forward.

On the topside, the 1.0188 level is a key level.  Not only is it the old low price from Sept 23rd, it is also where the 100bar MA on the 5 minute chart is found.  A  move above should be short term bullish.  The upside would be confirmed via a move above the 200 bar MA at the 1.0200 level .

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