USDCHF move above its 100 day MA.

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It has raced higher today

The USDCHF has raced higher today and is up 0.83% on the day. That makes it the biggest mover vs. the USD today.  The trading range is 102 pips which is way above the 22-day average of around 60 pips.   Strong buying.

Technically, the price has moved above it’s 100 day MA at 0.97281. The price has not been above that MA since September 12th. The high on September 11 reached 0.9758. The high from September 4th came in at 0.97663. A high from September 5th comes in at 0.9753.  
Traders have to respect the move above the 100 day MA. Stay above is more bullish. 
Drilling to the 5 minute chart below, the trend move is evident. There have been 3 trend legs higher. The corrections off each leg has stayed above the 38.2%-50% retracement areas (yellow area).
When the market trends, you have to respect the strength. IF the 38.2-50% of the legs stalls the corrections, the bulls remain in control. The current leg, has the 0.9726-31 as the 38.2-50% «correction zone». Stay above, keeps the trend momentum in tact. Move below, and the trend momentum is losing some of its mojo.  PS that correction zone is also home to the 200 day MA. Key area. 




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