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Forex Trading: USDCHF watching the 100 Day Moving Average at the 1.0258

Posted by Greg Michalowski on Fri, 07/18/2008 - 8:42am 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.