A tough nut to crack: The USDCHF tests a tough resistance level at 100 day MA /50% retracement

Look for some profit taking

Be aware…

The USDCHF is testing a key level defined by the 100 day MA and the 50% of the move down from the October 2017 high. Those technical levels come in at 0.9612. I would expect profit takers/sellers to lean against the level with stops above. The risk/reward is minimal at the dualing daily technical levels. 

On a move off the resistance, watch the 0.9583 level. That was the swing high from last week’s trading. A move below that line will have other support at the lower rising trend line currently at 0.9564 (and moving higher).  I would expect buyers to stick there nose in at these levels which could make much of a retracement, difficult for the pair.