USDCHF reverses the declines from yesterday and is back above 100 hour MA level

The USD/CHF has nearly reversed the decline from yesterday’s high of 0.90725, with today’s high reaching 0.90704. Yesterday’s drop took the pair down to the 50% retracement level of the range since the December 6 low, which is at 0.89655. The low price of 0.89645 marked a bounce back to the upside.

Today, the price moved back above the broken 38.2% retracement level at 0.90209, following comments from President Trump and Treasury Secretary Bessent on tariffs. The pair also climbed above the 100-hour moving average, establishing it as key support.

• Support levels: The 100-hour moving average serves as immediate support. A break below it would shift focus back to the 38.2% retracement at 0.90209.
• Resistance levels: On the upside, clearing the 200-hour moving average at 0.90765 could signal a continuation of the bullish trend, potentially ending the recent corrective move lower.

This article was written by Greg Michalowski at www.forexlive.com.