USDCHF bounces. Tests Asian-Pacific swing low after bouncing near 50% midpoint

  


USDCHF chops

The USDCHF fell below it’s 200 hour MA in the early European session/late Asian session and fell toward a swing area between 0.9088 and -0.9091 and the 50% retracement at 0.90845.  

USDCHF chops

The pair found support near that area and has since moved back above the 200 hour MA (green line in the chart above) and the 38.2% retracement.  The pair is now testing a swing level near 0.91147 (see blue numbered circles).  

A move above that level will have traders thinking about returning toward the high for the day at 0.91273. Above that and the downward sloping trend line at 0.9134 will be eyed (along with the falling 100 hour MA at 0.91378).  

Stay below the 0.91147 level keeps the tilt more to the downside intraday. Focus will return back toward the swing area in the 50% retracement going forward.

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