USDCHF extends to the upside into MA targets

The USDCHF is extending higher and in the process is stretching toward MA targets. The 200 hour moving average comes in at 0.9083. The 200 bar moving average on the 4-hour chart comes in at 0.9089. Also in play is the 38.2% retracement of the May trading range also at 0.9089.

A swing area and the 100 bar MA on the 4-hour chart add to the upside targets and buyers push up to the falling MAs. On the downside, it would now take a move below the 100 hour MA at 0.90739 (and staying below) to disappoint the buyers looking for more upside momentum.

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