The USDCHF is trading to a new high as the USD moves higher vs most of the major currencies.
On the hourly chart, the price has pushed back above the 50% midpoint of the July low-to-high move at 0.80405. Momentum is now carrying the pair toward the upper boundary of the swing area between 0.80438 and 0.80467 (see red numbered circles). A firm break above that zone would shift the focus higher, with traders eyeing the 100- and 200-hour moving averages clustered between 0.8057 and 0.80597 as the next key targets.
Looking at the EURUSD, it is moving with a dollar higher bias. The price of just reached a low of 1.16404. The 100 bar moving average on the 4-hour chart comes in at 1.1640. The 200 bar comes in at 1.16419. The price and the 2 moving averages both converged at the same area. Key level for buyers and sellers.
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