USDCHF breaks higher and moves away from 38.2% retracement.

The USDCHF has broken higher after the stronger than expected US CPI. In the process, the price has moved away from the 38.2% of the move down from the October 2022 high to the December 2023 low. That level comes in at 0.90252. The current price is trading near 0.9120.

CLose risk is the old high from earlier this month at 0.90949 now. Stay above is more bullish and keeps the buyers in control.

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