The USDCHF based earlier in the week near a swing area between 0.8913 and 0.8923. The 100 day moving average is moving toward that area as well giving sellers some cause for pause on the decline. That bottom for the week saw the price extend up to its 100 hour moving average, and the low of a swing area between 0.8965 and 0.89745.

In trading today, the price moved above its 100-hour moving average, and then based near that level toward the 200 hour MA. That moving average will a key barometer and as I type we are seeing an extension to the upside above that level, increasing the bullish bias in the process.

The video above outlines the technicals and explains the risks and the target for today and going forward.