Forex Trading: USDCHF Moves Back Above 100 Day MA
THe USDCHF had been consolidating around the 100 day MA for the last 11 trading days. Over that time the price traded above and below the level on 9 of 11 days. The last two trading days closed below the 100 day MA and should have been a trigger for increased downside momentum. The price did dip to new 2 month lows but today has seen a move back to and above the key MA level.
The level comes in at 0.9177 today. A close above this level would twist the bias back to the upside for the USDCHF
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