Fall below 50% and trend line can't keep momentum going at the lows today
The USDCHF is lower in trading today. The pair held below the 200 hour MA in the Asian session and that led to move below the 0.9200 and run toward the 50% retracement and upward sloping trend line at the 0.91731 level.
The pair slipped below that support target but could not extend to the low from yesterday at 0.91617 (the low reached 0.91639).
The run back higher in the USD (helped by a give up of some of the stock gains), has the pair basing at the 50% level on the current hourly bar, and moving now back above a swing area at 0.9184 to 0.91889. Buyers are making a play and taking back some control.
The next upside target would have traders looking toward the 0.9202 level. Risk/support now is back at the 50% and trend line at 0.91731 after the failed break.
