Weaker GDP sends CHF lower
The CHF is weaker today. A weaker than expected 3Q GDP (-0.2% vs 0.4% expectations) helped to weaken the CHF.
Even so, the USDCHF could only retrace 50% of the move lower yesterday and to the 100 hour MA at 0.99724 area. Buyers are making a play, but need to get above those levels for a more bullish bias.
The decline off those levels has stalled near the 200 hour MA (green line) at 0.9957. Stay above that MA, may lead to another run toward the technical levels (100 hour and 50%) above. Move below the 200 hour MA and the technical waters tilt more to the bearish side again.