Technical Analysis

USDCHF trades above and below the 100 day MA. Traders pause around the MA level.

100 day moving average at 0.9175.

The USDCHF move to the lowest level since September 15 and in the process dipped below its 100 day moving average at 0.9175. The price has been trading above and below that moving average of the last three hours as traders digest the move to the downside.  

The run lower today was able to get below a swing area going back to September between 0.91809 and 0.91846 (see red numbered circles).  That area was tested on Tuesday and the price again tested the area yesterday. 

The break lower today give the sellers more control technically.  Stay below is a close risk level for traders today.  Stay below keeps the sellers firmly in control intraday.  A move back above could see some disappointment after the failed break of the 100 day moving average.  

At the low today, the pair did touch a another swing area between 0.91628 and 0.9168 (see green numbered circles). A move below it would open the door for a move toward the 200 day moving average at 0.91384. In between is the swing low going back to September 10 at 0.9149.

Overall, dip buyers would want to see this area hold and the price to get back above the 0.91846 level and move toward 0.9200.  

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