The USDCHF is seeing choppy price action above and below the 200 day MA below and 100 hour MA above.
The 200 day MA is trading around 0.94316. The 100 hour MA is at 0.9446.
The day opened below both those MA levels, but moved above in the early European session. The high price reached 0.94669. That tested the swing low from August 2 and was short of the 38.2% retracement of the last move down from the August 5 high at 0.94767. The last few hours has seen a move back below both the 100 hour moving average and 200 day moving average to a low of 0.9418.
The bounce off that level has move back to the 100 hour moving average where so far the price is finding some stall (at 0.9446).
Can the sellers keep the stall against that level?
If that moving average level can hold resistance, a follow through move back below the 200 day moving average at 0.94316 would be eyed to confirm that the top may be in place for the day and a rotation back toward the lows is forthcoming.
Absent that and the short term tilt, moves back in the buyers favor with upside work to do starting with extending above the high for the day (and low from August 2).
