Technical Analysis

USDCHF rockets higher

Well… 67 pip run so far

The USDCHF has rocketed higher with the dollars move higher today.  

The move to the upside got a nudge initially, when the lows for the day could not reach the low for the week (and bottomed in a lower swing area between 0.8930 and 0.89393. The low for the week reached 0.8925). The last 8 hours has seen the pair move up 67 pips from the low.  I know, that is not really rocketing, but relatatively speaking, it is trend-like.  

The next target comes in at a swing area )including the high from Monday) at 0.90097 to 0.9012.  Get above that area is another tilt to the upside.

The risk for traders now will be the 200 hour MA at 0.8980 (green line). Stay above is more bullish. Move back below, and some of the bullish bias over the last 8 or so hours, is muddied.

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