Sasha Singh
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USDCHF : 100 Day SMA Acting As Resistance

USDCHF is moving sideways in very thin holiday trade. On the 4 hour chart, the pair seems like facing resistance from the 100 day SMA and support from 38.2 fib level. A break below this support level might push the pair down to the 23.6 level which is at .8791 however if the pair breaks above the resistance at 100 day SMA it might rise to the next resistance level at 50 fib level or .8847. On the stochastic oscillator the pair is currently in the overbought zone so the pair is towards the weakening of US dollar.