USDCHF rises after hitting low, targets key moving averages

The USDCHF, which is the exchange rate between the US dollar and the Swiss franc, has increased after hitting a low last week. This low was the lowest price seen this year at 0.8758. Yesterday, the USDCHF fell below the 200-day moving average, which is around 0.8812. This caused the price to drop to the low seen last week. Today, buyers stepped in at that low, pushing the price back up. However, the price movement has paused in a range between 0.8794 and 0.87995, which is close to 0.8800. To continue rising, the USDCHF needs to break above this range. If it does, it could attract more buyers targeting other key moving averages, including the 200-hour average at 0.8810 and the 100-hour average at 0.8815. For any upward movement to be significant, the price must stay above these moving averages. Otherwise, sellers may still have the upper hand in controlling the market. Short videos analyze these technical levels further, explaining their potential impact on future trading.