The USDCHF has seen volatile up and down price action with the last move taking the pair down to new session lows.
Of technical importance is that the price high today - in the late London morning session - stalled right against its 200 hour moving average (green line in the chart above) at 0.9203.
The subsequent fall has taken the pair back below its converged 100 hour and 100 day moving averages near 0.91838. In the current hourly bar has so far stalled against that level as sellers tried to keep control. Holding below will keep the tilt in the favor of the sellers.
Having said that, the price action today has seen moves above and below those moving converged 100 bar averages. As a result a move back to the upside - given the up and down volatility - will be eyed by traders as a close risk level now. Stay below is more bearish.
Move above 0.91838 puts the price back between the 100 hour moving average and 200 hour moving average, and muddies the technical waters. The current price trades just below those moving averages at 0.9180.
On the downside, the low today stalled against a low going back to September 15 at 0.91628. That level is ahead of the swing lows from Friday and Monday near 0.9150, which also corresponded with the September 10 swing low (see green numbered circles).