USDCHF bounces off targeted support at lows yesterday/today, but stalls at MA resistance

The USDCHF broke to new 2025 lows yesterday with momentum. In the post yesterday (see post here and the chart from that post below), I targeted the swing area at 0.8914 to 0.8923 and warned that the area “should give buyers a cause to pause” the move lower.

The chart below shows that buyers did lean against the support target and the price has bounced higher in trading today.

That bounce has seen the price move back toward its 100-hour moving average (blue line in the chart below) where sellers leaned this time and has) back in the middle of swing area support below between 0.8914 and 0.8923, and resistance above against the 100-hour moving average and a swing area between 0.8965 and 0.8975.

The battle is on between those levels and although you can argue in favor of being a better buyer, you can also argue in favor of being a better seller as well.

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