The USDCHF buyers took their shot and the sellers also took their shot and both missed
The USDCHF has been locked in a technical duel over the past 24 hours, with both buyers and sellers taking their best shot—and both coming up empty. Yesterday’s light-volume rally carried the pair above a downward-sloping trend line and a key swing level near 0.8102, reaching a high of 0.81074. But the breakout quickly failed as sellers regained control and pushed the pair back lower.
Today, it was the sellers’ turn. The decline broke below the 0.8062–0.8070 swing area and the rising 100-hour moving average (currently at 0.8063), seemingly putting the bears back in control. However, just as the buyers failed to capitalize on yesterday’s breakout, the sellers failed to sustain today’s breakdown. In this technical duel, both sides fired—and both missed the decisive blow.
So what comes next? The pair is currently trading just above the 200-hour moving average and the 0.8070 swing area, leaving the market at an important crossroads. As long as price holds above this support zone, the buyers retain a slight edge. Their first objective is a move back above the downward-sloping trend line, now near 0.8097, followed by yesterday’s high at 0.81074. A break above those resistance levels would shift the focus toward the June high at 0.81389.
On the other hand, if sellers can force the price back below the 100-hour moving average and the 0.8062 swing low, they would regain the technical advantage. That would target today’s low at 0.8054, with a break below opening the door toward the next key support zone between 0.8007 and 0.8017, where a swing area converges with the 38.2% retracement of the recent rally.
For now, the duel remains unresolved. Both sides have missed opportunities to seize control, leaving the next break of these key technical levels likely to determine who finally wins the battle.
This article was written by fl932d6e52a19643278e0f123bca7198f5 at investinglive.com.