Forex Trading: USDCHF More Pressured In Quiet Trade
Despite the stock market being opened today, and some US economic data being released, the markets remain very quiet and contained. The USDCHF has traded between 0.9330 an 0.9349 in the NY session. Tilting the bias to the downside is the inability to push above the 100 hour MA (blue line in the chart above) which comes in at 0.9353 currently. What keeps the buyers content is the inability to push materially below the low from Friday’s trade at the 0.9332 (low ticked at 0.9330). So although the pair has a slight bearish bias, the range is narrow and the sellers are not all that strong.
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