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Parity level approached.
Yesterday the USDCHF moved higher, helped by a much weaker 3Q GDP data (-0.2%). The run higher stalled near the 100 hour MA (blue line in the chart below).
Today, that MA level was broken. The price ran higher and now trades above the 38.2% of the move down from the November 13 high at 0.9992. The parity area is now targeted. Since breaking below on November 16, the price has found sellers near that area.
A move above will target the 50% at 1.0018. Above that, and the 1.0035 will be eyed (November 15 low).
This article was originally published by Forexlive.com. Read the original article here.