The USDCHF held support at an upward sloping trend line on the hourly chart above on two separate occasions. The low of Friday tested that trend line as well as higher lows attract dip buying.
Having said that, the topside in the near term has seen lower highs.
That dynamic has buyers and sellers fighting it out with dip buyers and high sellers sticking toes in the water near extreme targets.
On the topside, the pair is moving closer to a swing area between 0.97722 to 0.9776. Above that, and a downward sloping trend line cuts across at 0.9285. Move above those levels and the highs from last week at 0.9287 and 0.9295 would be targeted.
On the downside, the price traded above and below the 100 hour MA, but a move below would then have the upward sloping trend line at 0.9239 and the 200 hour MA at 0.92348 to get and stay below.
