Topside trend line, stalled the rally today
The USDCHF has moved up and it has moved back down today. The high price stalled at a topside trend line. The move back lower has been dancing with the 200 hour MA (green line at 0.9847) over the last 4 hourly bars. We are seeing more of a break back below as I type with the pair down to 0.9842.
With the price back below the 200 hour MA, the 100 hour MA at 0.98365 will be eyed. A break below would tilt even more to the downside.
Meanwhile over in the EURCHF, the pair is trading to a new session low with the low from yesterday at 1.09704 the next target. The correction higher today did move above the 1.1000 level (to 1.1004) but that did not last long). The EURCHF moved to the lowest level since July 2017 yesterday