The USDCHF is trading higher on the day, with the latest push lifting the pair back between its key 100- and 200-hour moving averages (blue and green lines on the chart above). That puts the market at an important technical crossroads.The 100-hour moving average comes in at 0.80539, while the 200-hour moving average sits at 0.80726. Earlier today, the pair broke back above the 100-hour MA, then pulled back to 0.80533, holding just above that support before rotating higher again. The session high reached 0.80720, just shy of the 200-hour MA, and the pair is currently trading near 0.80633 between the two key averages.Last week, sellers drove the pair down to test a key support zone between 0.80097 and 0.80178. That area also coincided with the 38.2% retracement of the rally from the May 29 low at 0.80074. The decline stalled at 0.80092, just above that confluence of support, and buyers responded with a rebound.The failure to get below the 38.2% support shifted the momentum back to the upside, but the recovery has now run into another decision point. Buyers who entered near last week's lows may look to take profits into the 200-hour moving average, while sellers looking for renewed USD weakness can lean against that resistance with risk defined by a sustained break above the 200-hour MA.For now, the market is trapped between the two key moving averages. The next shove will likely come from a decisive break—above the 200-hour MA to strengthen the bullish case, or back below the 100-hour MA to hand the short-term advantage back to the sellers. This article was written by Greg Michalowski at investinglive.com.