USDCHF moves back above 100 day MA

Written February 10, 2012 at 9:49 AM EST by  

THe USDCHF had been consolidating around the 100 day MA for the last 11 trading days. Over that time the price traded above and below the level on 9 of 11 days. The last two trading days closed below the 100 day MA and should have been a trigger for increased downside momentum. The price did dip to new 2 month lows but today has seen a move back to and above the key MA level.

The level comes in at 0.9177 today.  A close above this level would twist the bias back to the upside for the USDCHF

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