USDCHF buyers make a play after the US CPI data. Can they keep the momentum going?

The price action in the USDCHF has seen up-and-down volatility after the US CPI report. On the downside, the price did extend briefly below its 100-day moving average at 0.8754. Recall from yesterday, the price bounced off of that moving average at session lows.

Today, although the price moved below the moving average, the momentum could not be sustained and the price quickly rebounded to the upside.

The subsequent move higher has been able to extend above its 100-hour moving average at 0.8784, but like the break of the 100-day moving average, there is some apprehension for further momentum.

In this video, I try to make sense of the technicals that should provide the roadmap for traders as they embark on the next leg of the journey.

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