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USDCHF moves into topside swing area resistance

  • The 61.8% retracement is also being tested
USDCHF trades to retracement and swing area resistance

The USDCHF is trading their high levels is trading near high levels and in the process is testing a swing area between 0.9537 0.9549 retracement of the move down from the August 5 high is also within that area at 0.95434. The high price today has reached 0.95429 so far.

The area has seen some stall from the buyers. Earlier today, the price decline came back down and retested it's 50% retracement at 0.95107 before moving back up more recently. A move above the Topside extreme should get buyers more confidence to push higher. Meanwhile sellers against the area would want to see a rotation back down toward the 50% midpoint near 0.95107. Phone below that level would have traders looking toward the 200 hour moving average of 0.94897.

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