Forex Trading - EUR/CHF Probing Technical Levels (CLICK FOR CHART)

The Euro Swissy pair has received a slight bid early in NY Trading today, breaking north of the 38.2% retracement and hitting the 55 hour moving average then trading lower. Using the hourly retracement analysis from the lows on July 16th and the highs of July 31st, as well as the 55 and 200 hour moving averages, we can see a number of important technical levels the pair needs to break to the upside in order to recapture recent levels. However, moving lower seems to be the easier path as a growing climate of concern surrounding the inflationary and slowing economic growth picture in the Euro Zone continues. In addition, the 55 hour moving average has again crossed below the 200 hour, continuing the negative sentiment. Please click the chart below in order to view the full perspective of the retracement.