USDCHF reaches and bounces of the 200 hour/day MAs

The USDCHF surged higher following the Swiss National Bank’s rate cut, which had a 64% probability priced in. The Swiss franc weakened, pushing USDCHF upward as the market reacted.

The rally broke above a key cluster of moving averages, including the 100-hour, 200-hour, and 200-day MAs, reaching a high of 0.8845 before pulling back during the U.S. morning and afternoon sessions.

On the downside, the correction found buyers at the 200-day and 200-hour MAs, which converged at 0.88119. These levels now serve as key support going into the new trading day.

Key Levels to Watch:

• Bullish Bias Holds: If price remains above 0.88119, the short-term bias stays to the upside.
• Bearish Shift: A move below 0.88119, followed by a break under the 100-hour MA at 0.88018, would tilt the bias back to the downside.

The USDCHF remains in a pivotal zone, with traders watching how price reacts around these moving average levels.