Consolidates the fall
The USDCHF fell below the 100 hour MA today (in the chart below at 0.9770) and trend line support on the way to the 38.2% retracement of the move up from the September 18 low and the 200 hour moving average (green line in the chart below). Both of those technical levels come in at the 0.97218 area. The price is currently testing the underside of the broken trendline at the 0.9742.
Moving above that level could see a move toward the 38.2-50% of the move down today at the 0.9756-67 area. If the stocks should recover that might be a positive for the pair, but going into the new trading day and if there is concerns about how the Asian Pacific take the stock markets fall, I would expect the upside to be limited. Technically look for patient sellers near 0.9765-70.
