USDCHF toys with a key support level. Do we get a bounce?
50% retracement and 200 hour MA settle at 0.9435.
The USDCHF is toying with the 200 hour MA and the 50% retracement at the 0.9435 level.
The price has traded below the key level on two separate hourly bars. The current bar stalled at the line. Is it showing a buying floor?
The risk is not great. A new low for the day or if you just want to use the dual tools at 0.9435.
If the price starts to trade below the levels, it is not a good signal from a technical perspective. However, if the price level does hold, there can be a retest of the 0.9458 (low from yesterday and the 38.2%) and we can see what happens from there.