Open account

The USDCHF buyers took their shot and the sellers also took their shot and both missed

USDCHF is at a technical crossroads after both buyers and sellers failed to sustain breakout attempts over the past 24 hours. The pair first rallied above a downward trend line and the 0.8102 swing level, reaching 0.81074, but the move faded quickly. Today, sellers briefly pushed the pair below the 0.8062–0.8070 swing zone and the 100-hour moving average at 0.8063, but that breakdown also failed. USDCHF is now hovering above the 200-hour moving average and 0.8070 support. A sustained move above 0.8097 and 0.81074 would favor buyers and open a push toward 0.81389, while a drop back under 0.8062/0.8063 could hand control back to sellers and target 0.8054 and then 0.8007–0.8017. The article is a purely technical setup with no macro catalyst, highlighting near-term directional indecision and the importance of the next break.

Category

USD/CHF

Sentiment

Mixed

Event

Technical analysis

Reading time

1 min