The 200 week MA and 61.8% rebroken at 0.9554 area
The USDCHF has fallen back below the 200 week MA AND the 61.8% of the move up from the 2015 low.
The price had moved above the key weekly MA earlier today. Speculation on the back of the SNB intervention had pushed the pair above the level.
Now the FOMC statement (more dovish - or less hawkish) has sent the price back below the support level.
The level remains a key level for bias clues and risk defining purposes. Stay below is now more bearish. Sellers may look to lean against on rallies. However, moves above would be more bullish.
On the downside, the swing lows from 2016 will be targeted including 0.9521, 0.9498, and 0.9444. The 0.9444 area is a double bottom from the 2016 and 2017 lows.
PS the 100 hour MA is at 0.9495 (near one of the swing lows at 0.9498).
