USDCHF hits new highs, bullish momentum strengthens

The USDCHF has pushed to a new 2024 high price today at 0.90943. In the process, the price is moving away from its 38.2% retracement of the longer-term move down from the 2022 high. That retracement level comes in at 0.90252. Recall at the end of last week the price moved below that level, disappointing some traders but found support within a lower sewing area down to 0.8986.

In this video, I take a look at the USDCHF pair from a technical perspective, outlining the risk, targets, and what would turn the bias around. For now, the buyers are more in control as they continue to build to the upside.

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