USDCHF is running away from its 100 day moving average as well
The USDCHF as broken below its 200 day moving average (green line in the daily chart below). The pair is trading below that level for the first time since August 7. The moving average currently comes in at 0.91457.
Drilling down to the hourly chart below, the day started with the pair trading near its 100 day moving average (blue line in the chart below). The price moved higher in the Asian session and waffled up and down, but found sellers just ahead of its falling 200 hour moving average (see green line in the hourly chart below). That moving average currently comes in at 0.91950. The high price reached 0.9194.
The subsequent move to the downside has seen increased momentum over the last few hours when the dollars selling kicked in.
The low price from Friday and earlier this week came in near 0.91496. The 200 day moving averages at 0.91455. Going forward, a break below both those levels increases the Sellers control and bias. It also sets those levels as close risk for the shorts. Stay below those levels and the sellers remain in control.
Going back to the daily chart above, the 50% midpoint of the 2021 trading range comes in at 0.91144. The low price from September 3 comes in at 0.91143. Falling below both those levels would increase the bearish bias.