USDCHF falls below 100 and 200 hour MAs

The move below is more bearish

The USDCHD has fallen below the 100 and 200 hour moving averages at 0.9633 and 0.96266 respectively. Moving below is more bearish. Risk is now the 0.9633 level. A move below the 50% at 0.96198 would next target the 0.96038 level (61.8%).

The move to new lows corresponds with the rise to new highs in the EURUSD. However, the EURUSD rise against the dollar has outpaced the rise in the CHF against the dollar. You can see that in the EURCHF which is trading at the highest level since Sept 1, 2016 when the price rose to 1.1000. The pair may find some sellers against that level which may help the USDCHF move lower in the process.