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1. USDCHF bounces off the 200 hour MA and trades higher

   The USDCHF moved lower with the USD selling earlier today, and in the process moved down to test the 200 hour moving average at 0.90653. Support buyers leaned against the level and pushed the price back higher. The pair is trading between the 100/200 bar MAs on the topside at 0.9091 (and a swing area up to 0.90978), and the 200 hour MA below.

   Absent any big move into the close, that is where the week will close out. Next week, the MAs above and below will be the support and resistance. A break of either target with momentum would either increase the bullish bias or bearish bias.

   This article was written by Greg Michalowski at www.forexlive.com.

2. The USD is moving lower. How has the technicals helped in that decline?

   The USD has reversed back to the downside versus the major currencies.

   In this updated technical look, I outline how the technicals have helped to reverse the markets, and in some cases reverse the gains turning the buys back to the downside for the greenback, and for others, move to the target support/resistance.

   In this video, I take a detailed view of the:

   • EURUSD. :017
   • GBPUSD. 1:47
   • USDJPY 2:39
   • USDCHF 3:46
   • AUDUSD. 4:59

   This article was written by Greg Michalowski at www.forexlive.com.

3. USDCAD retraces gains on the day and tests swing area support ahead of 38.2 retracement.

   The USDCAD has now retraced the earlier gains in trading today.

   The price is now down testing a swing area between 1.3604 and 1.3615. A move below that level will have traders looking toward the 38.2% retracement of the move up from the December 2024 low to the high price reached in April. That level comes in at 1.35899. In trading this week that retracement level was tested on two separate occasions.

   Today and going forward, that level will be a key barometer for both buyers and sellers. The price of the USDCAD has been trending higher since December low (with ups and downs along the way). However, the correction over the last month or so of trading as seen lower highs and lower lows. The 38.2% retracement is always a target level that needs to be broken -and stay broken - if the sellers are to take more control.

   So far that hasn't been done keeping the buyers in play. That would change with a break below that retracement level.

   This article was written by Greg Michalowski at www.forexlive.com.

4. EURUSD bounces off the dual support level.

   In the kickstart video, I outlined the key dual technical level at the 61.8% and the 100 hour MA. Both were at 1.08354. Buyers leaned against the dual technical level and the price has bounced to 1.0862. The close yesterday came in at 1.0863. Move above that level and traders will retarget the higher swing area between 1.08758 and 1.08872 (see Kickstart video here).

   Yields remain higher with the 10 year up 2.5 basis points at 4.042%.

   US stocks are marginally higher.

   This article was written by Greg Michalowski at www.forexlive.com.

5. USDCHF finds willing sellers near week highs, moving averages and key swing area

   The USDCHF has moved back toward the high for the week, and in the process is retesting a swing area between 0.9087 – 0.90978, and converged 100 and 200 bar moving averages on the 4- hour chart at 0.90915.

   The high price installed near 0.90978, and the price has rotated back lower and below the aforementioned target resistance area. Stay below the 0.9087 – 0.90978 area keeps the sellers in play. Going forward it would take a move above that area to increase the bullish bias.

   This article was written by Greg Michalowski at www.forexlive.com.