The USDCHF is trading in a narrow 21 pip range to start the new trading week. That range has the pair trading between swing levels with 0.7938 to 0.7951 on the topside and 0.7911 and 0.7921 on the downside. The high today reached 0.7943 and the low at 0.7922.
Traders will be looking for a break of either of the swing level to give traders in the short term some sort of advantage.
If I were to put a tilt in the bias, the sellers would hold the edge. The price is below the 100/200 hour MAs after peaking on Thursday October 9 near prior swing highs going back to end of August to early September (between 0.8071 and 0.8076). The price last week reached a peak at 0.8057 on Monday before racing lower and bottoming at 0.7871 on Friday. That low stalled at a prior low from September 18
