50% retracement comes in at 0.91471
The USDCHF as traded to the lowest level since September 22. In the process the pair is testing the 50% retracement of the move up from the September 1 low. That level comes in at 0.91471. The low for the day just reached 0.91471. We currently trade at 0.9154.
So far support is held against the midpoint level. A break below however should trigger some selling.
On a bounce, close resistance comes in between 0.9160 0.9164. That area was home to swing lows from September 30, October 1, and earlier today (see red numbered circles). The current hourly bar has been able to stay below that level. If the price can stay below the sellers remain firm control.
