Since July 3, USDCHF has been trading within a tight 74-pip range, with support near 0.79197 and resistance capped near 0.7994. In between, the 100- and 200-hour moving averages, currently at 0.79625 and 0.79587 respectively, are converging—highlighting the pair’s growing indecision.
On Tuesday, the low price stalled just ahead of the 200-hour MA, giving buyers a reason to lean in. The pair rebounded toward resistance, but sellers emerged near 0.7982, just below the key swing area between 0.7986 and 0.7994. In the Asia-Pacific session, the pair rotated back lower.
On the downside, the 200-hour MA has been breached several times over the last few hours, but no hourly closes below have materialized, signaling a lack of bearish momentum
USDCHF is having a tough time of deciding higher or lower
