New lows for USDCHF. Head and shoulder break?

Technical Analysis

Author: Greg Michalowski | usdchf

Tests 100 bar MA on 4-hour chart

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.  



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