Trend line support at 0.9108 being tested
The USDCHF has fallen below the 200/100 hour MA with that last run lower in the USD. The 100 hour MA currently comes in at 0.91159.
The pair next has the upward sloping trend line at 0.9108 to get below. The low for the day reached 0.9103 in the late Asian session.
The move lower has ticked the bias a bit more to the downside. There are other targets including the low from yesterday at 0.9091 and the low from Tuesday at 0.90876.
Like the EURUSD, the low to high trading range for the week is very low. At 63 pips that range is the lowest since November 2019 when it was also 63 pips. You have to go back to 2014 to get range lower than 63 pips for the week.
Keep that in mind as we look to enter the last trading day of the week. We could see an extension of the week's range (below 0.90876, or above 0.9150).
