The USDCHF continues to consolidate between clearly defined range extremes with resistance near 0.8333 and support at 0.81952. Yesterday’s price action briefly pushed below that lower boundary, reaching a low of 0.8185 during the FOMC-related volatility, but buyers quickly stepped in, rejecting the downside break.
Currently, the pair is rotating around its 100- and 200-hour moving averages, which are clustered mid-range between 0.82395 (100-hour MA) and 0.82484 (200-hour MA). That positioning reflects a neutral, indecisive market bias.
To shift the technical outlook, traders will be watching:
-
A break above 0.8333 to increase bullish momentum.
-
A move back below 0.81952 to reignite downside pressure.
-
The 100 and 200 hour MA midrange (0.82395 to 0.82484) are barometers for more bullish or more bearish.
For now, the pair remains caught in a range as buyers and sellers battle for near-term control.
This article was written by Greg Michalowski at www.forexlive.com.
