USDCHF is having a volatile end of month

The  USDCHF has had a volatile run of it today.

The pair raced higher soon after the NY open and pushed up toward the falling 100 hour moving average at 0.9600 currently (blue line). The high price reached 0.95934.

Buyers turned to sellers ahead of the moving average. The price over the last 2 hours into the London fix and into the European close has tumbled back to the downside. The low price just reached 0.95127. The low for the day reached in the early European session reached 0.95009. The low price going back to June 29 reached 0.94945.

Move below 0.94945 would take the price to the lowest level since April 21.

Looking at the daily chart, there is another support target between 0.9459 and 0.9472 (see yellow area and red numbered circles). Also know from the daily chart is the up and down swings in this currency pair since April. The price action has seen somewhat significant trend leg moves up and fulll retracements back down which is unusual. Market traders are whipping around.

Steve Walker

Learn More →

Dodaj komentarz

Twój adres e-mail nie zostanie opublikowany.