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USDCHF stays above shorter term MAs and keeps the trend higher in play

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The pair is sideways to higher in the NY session but keeps the buyers in control 

In an earlier post on the USDCHF (and yesterday), I wrote on the USDCHFs ability to stay above the 100/200 bar MAs on the 5-minute chart(see blue and green lines in the chart below). The dips yesterday and today have been able to stay above those MA lines.  Coming into the NY session, the price had extended away from the MA lines as trend buyers pushed price toward the session highs (see post here). 

The pair is sideways to higher in the NY session but keeps the buyers in control 

In the NY session, the price did see a corrective move lower. However, the low in the session stalled ahead of the rising 100 bar MA and near the 38.2% retracement of the trend move up today (near 0.9220 level). The low reached 0.92199. 

The price just traded to a new session high at 0.92334, but backed off.  However the price for the USDCHF still remains above the rising 100 bar moving average (blue line) at 0.92248 and above the 200 bar moving average at 0.92137.  In between sits the 38.2%-50% of the trend move higher today between 0.9215 and 0.92194(see yellow area in the charrt above).  

I would expect traders to watch those levels on the downside to see if support continues to hold. If so, the trend is firmly in the hands of the buyers still.   The sellers are not winning



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