The 0.9784 is the high from Friday and today. The 200 hour MA is just below that at 0.9781

The USDCHF is higher on the day and that move was able to:

  • Stall at a recent floor in the 0.9734-37 area
  • Move above the 100 hour MA

What it has not been able to do is:

  • Get above the 200 hour MA at 0.97811 currently and
  • Get above a ceiling at 0.9784. The high from Friday and today stalled at that level.

The price is heading back toward a retest of the 0.9781-84 area. A break would look toward last week's high at 0.9797. The 38.2% of the move down from the Dec 7 high comes in at 0.98053.

These targets are minimal targets that would help to turn what has been a more bearish rotation from the October/ November high, to a more bullish bias.

First things first... get above the 200 hour MA an ceiling area.