USDCHF moves below 100 day MA on safety flows

CHF attracting attention

With the Brexit situation in flux for UK and EU, the CHF is finding a bit of a bid. The USDCHF has moved below its 100 day MA at 0.98858. The price tested that MA on Friday and bounced. Today the price moved below the level and failed. This is the second look below the key MA levels.

For traders, the bias is bearish. The risk is the 100 day MA level.

With Brexit uncertainty high, and US also in a state of uncertainty from trade and a weak stock market, the CHF is not a bad alternative to traders.

PS the EURCHF is lower too and is testing the November low at 1.1260. Key target level for that pair.