100 hour MA above and 200 hour MA below defines the upper and lower borderlines
THe USDCHF has been trading in a range from 1.0169 to 1.02347 scine April 23rd. The up and down consolidation has allowed for the 100 and 200 hour MAs to catch up to the price. This is normal after a trend move (higher in this case). Price action trends and then it non-trends. Since April 23, we are non-trending.
The 100 and 200 hour MAs have caught up and the price action today is trading between those levels. The “market” is trying to decide what it wants to do.
A break above the 100 hour MA (blue line), tilts the bias more to the upside, while a break below the 200 hour MA below at 1.01788 would tilt the bias more to the downside.
I look at this time as “decision time” for “the market”. Buy a dip, sell a rally, look for a break with momentum eventually.