November 7th low at 0.9151 tested.
The CHF is the strongest currency today and in the process, the USDCHF is trading to the lowest level since November 7th (lowest level of November). The October 24th low is also being tested (see chart below). A move below will open up the downside to 0.9935 area where other swing lows are found.
Earlier today, the price fell below the 200 bar MA on the 4-hour chart at 0.9985 (- green line in the chart above - bearish). That led to more selling. In the Asian session, that MA stalled the fall.
On even more downside momentum, the 100 day MA comes in at 0.9885 currently (D1 in the chart above). That MA was broken above back on October 3rd an based near the MA level October 11 and again on October 15/16 before basing and moving higher. That MA should be a key bias level for bulls and the bears. I would expect that buyers would lean on test. We aare still a bit away from that MA level at the moment.
Sellers are in charge.
PS. The price just broke below the aforementioned lows and trades to a new session low of 0.9946
