USDCHF finds buyers near some key support. Can the buyers keep that positive momentum?

<p>The USDCHF fell in early Asian trading but found support buyers near the 38.2 of the move down from the end of May high near 0.8779. That is also near a rising trend line and a swing ceiling going back a couple of weeks all near the same area. </p><p>If the price is able to stay above that area, the buyers are more in control.</p><p>On the topside, a swing area between 0.8805 and 0.8827 is the next upside target to get to and through. Above that and the 50% midpoint of the same move lower comes in at 0.88497. Conversely move below the 0.8879 level, and traders will look toward the rising 100 bar moving average on 4-hour chart at 0.8760 followed by the 200 bar MA at 08735.</p><p>For now, the buyers are in control above 0.8779, with work to do to increase that bullish bias. </p>

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