200 hour moving average stalled the rise today
The USDCHF has seen a sharp move to the downside in the US morning session. The move was helped along by a break of the 100 hour moving average at 0.92304 and a swing area between 0.9221 and 0.92242. Earlier in the London morning session, the price moved up to test its 200 hour moving average (green line) and found willing sellers against that level. That started the move back lower.
The pair has moved down to test its low from last week at 0.9193. The low price just reached 0.91944. A move below that level would target the low from yesterday at 0.91843. Sellers yesterday pushed below the 0.9193 level but were disappointed and snapped the price back higher to retest its 100 hour moving average into the close.
Does the “higher” low from last week hold support (stall the fall) here? If buyers lean, I would expect that a move below could see quick intraday sellers and a retest of the low from yesterday and potentially a test of the 100 day moving average just below that level at 0.91737.