Price trades between MA levels

The USDCHF held support in the London morning/early New York trading against its 200 hour moving average at 0.88819. However the dollar selling in early near trading has push the price below that moving average level. The run to the downside reached 0.88722. That was just above the 100 hour moving average at 0.88712.

The current price trades at 0.88743.

Buyers and sellers will now battle it out between the moving average levels. The sellers are trying to take back more control, but will need to stay below the 200 hour moving average, AND get below the 100 hour moving average to increase the bearish bias.

For bank trade ideas, check out eFX Plus



Source link

×