USDCHF moves to lowest level since November 4

Technical Analysis

Author: Greg Michalowski | usdchf

USDCHF breaks below 100 day moving average today

The USDCHF is breaking below its 100 day moving average at the 0.98864 level. In addition, the pair fell below its 38.2% retracement at the same level.  That has weakened the technical picture for the pair and selling has continued to new session lows at 0.98614.

USDCHF breaks below 100 day moving average today

The next target from the hourly chart above would be the November low at 0.98493 followed by the 50% retracement of the move up from the August low at 0.98429. The October low came in at 0.98377.

Risk off the hourly chart is the 100 day moving average and 38.2% retracement at the 0.98864 level.
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