In a North American session, buyers come up against a 100-hour moving average
USDCHF support / resistance levels are now defined in today’s up and down trading session. The couple is higher in the day, but has had several swings up and down.
For the first time, the price rose to 0.9221 for the first time in a new session. That price brought the price fluctuation range from 0.92208 to 0.9222 and also the downward slope of 0.92228. The sellers relied on the level of resistance and the price moved lower.
Subsequent declines from this level have seen prices fall to retest the 50% midpoint of their July trading range. This level is 0.91955. Near the level is also a lateral 100-hour moving average at 0.91930 (see blue line). Buyers relied on the level of support and the price has risen higher
On the 100-hour sliding average support and 50% retracement between 0.9193 and 0.91955, and with resistance in the swing area and on the trend line between 0.92206 and 0.92222, battle lines have been drawn for traders.
There is a battle between buyers and sellers between the lines where prices are currently traded, as traders expect the next impetus, either above resistance or below technical support.