Based today at trend line and 100 day MA

The USDCHF is surging higher today and in the process is trading above its 200 day MA at 0.9656.

The pair got a boost today after basing near the 100 day MA at 0.9584 (the low reached 0.95802 before quickly reversing), and a lower trend line on the 4-hour chart below.

Along the way, the price moved above a downward sloping trend line at 0.9626, and the swing highs from the last two weeks at 0.9646-48. Those highs are close risk now for longs.

Drilling to the 5-minute chart, the pair has showed trending tendencies. The price is moving higher with limited corrective moves. The current leg higher from 0.96139 to 0.96667 has the 38.2%-50% of the leg higher at 0.9640-46. The 38.2% corresponds with the swing highs from the last two weeks. That increases the areas importance as an intraday risk level for buyers. A move below the 0.9640-46 area muddy the waters for the bulls.

More upside, will have the pair targeting the 61.8% of the move down from the October 2017 high (see daily chart below). That comes in at 0.97123 (the 0.9700-123 will be a target area).