Pair moves for the away from the old July low 0.93613
The USDCHF has moved to the lowest level since March 10, breaking the low from yesterday at 0.93206. The low price reached 0.93002 so far today. The low for the year was reached on March 9 at 0.91747. The low close for the year came in at 0.92504 (also on March 9).
The fall is moving further away from the low from earlier this month at 0.93615. There is a swing area between that level and 0.93895 where a number of lows have been made going back to March. Yesterday, the price move below that swing area (see yellow area in the chart above).
Drilling to the hourly chart below, the price for in July came in between 0.93615 and 0.93701. Yesterday the price fell below that level and buyers turned to sellers quickly. The corrective high today could only move up to 0.9351. It will take a move back above that swing area to give buyers more control.
