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.
Recent Posts
Categories
Related Articles
Australian economy – household income has collapsed back to 2009 levels
This is via Roger Wilkins, an economist at The University of Melbourne.A...
ICYMI – SEC Chair Gensler to Depart Agency on January 20
The US Securities and Exchange Commission announced on Thursday that its Chair,...
Deutsche Bank: EUR/USD could fall below parity, potentially reaching 0.95 or even lower.
A note from Deutsche Bank analysts see them warning that a full-force...
Australia preliminary manufacturing PMI November 49.4 (October was 47.3)
Australia Judo Bank / S&P Global data. Mixed bag, up for manufacturing...
Leave a comment