Forex Trading: USDCHF watching the 100 Day Moving Average at the 1.0258
Posted by Greg Michalowski on Fri, 07/18/2008 - 7:42am in

The USDCHF is near the 100 day moving average at 1.0258. Since May 15th the USDCHF has been above the 100 day moving average for 9 days. The most consecutive days above the level was 3 days. Once it stayed above for two days. The other 4 days the market stayed above for a single day.
The market will be watching the level as we move into the weekend. Since the pair is still below the level, the medium term trend is bearish. A break above would change that for the medium term.
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