200 hour MA and 50%

The USDCHF has moved down with the dollar today and in the process has moved to a low risk level at the 50% and 200 hour MA at 1.00528. Traders bought the first test against the level. The price moved above the 100 hour MA above (reached 1.00746).

The price is now back below the 100 hour MA (at 1.00699) and trades between the two MAs.

I like when the 50% and 200 hour MA converge (see video). They both represent turning points for bullish above and bearish below. So I expect the level to be a tough nut to crack. If the price can get back above the 100 hour MA for the 2nd time, that should lead to a further corrective move higher. The 1.0084 level is the 50% of the day's trading range. That would be the next target to shoot for if the buyers can take back more control.