Forex technical analysis: USDCHF bounces off the trend line




To remain below 100 hours of Mangal USDCHF fell on the flight to the safety of the CHF, but that fall in the USDCHF has a limit. That came against a declining trend line. On the way to the bottom the pair has dropped below the 100 hour MA at 0.96799 , the 100-day MA at 0.96646 and the 200 hour MA (green line at 0.96509) before the trend line.

The price has retraced back to the 100 hour MA at the 0.96799, but has traded mostly above the 100 day MA at 0.96646 in the course of the last few hours.
That says to me, sell against the 100 hour MA but I am below 100 days (and stay below). This is the beginning, the 200-hour MA and the trend line are the objectives to be achieved and through also, but below the 100-day is step 1.



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