New lows for USDCHF. Head and shoulder break?
Tests 100 bar MA on 4-hour chart
The USDCHF is making new session lows, and in the process, is breaking below a head and shoulders neckline at 0.9846.
The pairs is testing the 100 bar moving average on the 4 hour chart at 0.98384 and swing lows from July 2 and July 3 and 0.9834-357. Moving below each should solicit more selling.
Sellers are making more of a play and taknig more control. There is potential for follow-through selling on the back of the head and shoulders neckline break. Be aware.