USDCHF extends the trading range to the upside, but runs into swing area resistance

The USDCHF was trading in a 38 to arrange coming into the day. That is not a lot. Today we saw a break to the upside above 0.91159 that sought momentum take the price up to the high of a swing area near 0.91558. The high price reached 0.9157 before rotating back down. The 61.8% retracement of the May trading range comes in at 0.91334. That represents an interim fitted between better support at 0.91159 and resistance at 0.9156.

Buyers are making a play, but into topside resistance.

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