USDCHF tests 100/200 hour MA at 0.7853/0.7857
The USDCHF pushed to a new session high, testing the converging 100- and 200-hour moving averages at 0.7853 and 0.7857 respectively.
The pair moved back above its 100-day moving average at 0.7838 after falling below that level during yesterday’s dollar selling.
Crude oil is trading near $94 after reaching a high of $94.51, driven by fresh geopolitical headlines.
The market is caught between support at the 100-day MA below and resistance at the 100- and 200-hour MAs above, keeping the bias more neutral.