The USDCHF remains mired in a narrow trading range.
Since breaking above the 38.2% of the move down from the July high back on October 16, the price has been mired in a range from 0.8629 to 0.8699 or about 70 pips (over around 10 trading days). That is not a lot.
The consolidation has allowed for the 100 and 200 hour moving averages to catch up to the price. The 200 hour moving average comes in at 0.86619 NA 100 day moving average comes at 0.86663. Those moving averages are new the middle of the range and will act as a barometer in the short-term between the 70 range.
This article was written by Greg Michalowski at www.forexlive.com.
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