It all started after the 200 day MA stalled the fall (and Dec 11 low too).
The USDCHF has snapped back higher on a reversal of the dollars fortunes over the last few hours of trading.
The move higher started after the 200 day MA stalled the fall in the London session. That low was also near the low from December 11 at 0.9662.
The rally now has the pair up testing the 200 and 100 hour MAs at 0.99276 and 0.99347 respectively. The 50% of the range since Dec 6 comes in at 0.99253. Will sellers lean against this level now? That is a level to eye for low risk traders. I would expect a stall in respect with stops if the momentum continues. It is sometimes hard to stop the trade, but remember the 200 day stopped the run lower. So don’t be surprised either (risk is defined anyway).