Forex technical analysis: USDCHF breaking but may have reached it's peak for now

Technical break fueling a run up

The USDCHF has raced higher in trading today.  The move has seen the price step through technical levels.

• The 100 hour MA at 0.98704
• The 200 hour MA at 0.98826
• A topside trend line at 0.9900
• The 50% at 099026

However, the last breaks above the 0.9900 level (the high reached 0.9909) may have been the last gasp for now. The price has moved quickly back below the levels.  Be aware. The 0.9900-02 area may see more selling now.  If the price cannot get back above, a retest of the 200 hour MA may be the next move.

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