The USDCHF is back below its 100 day moving average

The USDCHF started the day above the 100 and 200 hour moving averages near 0.9227 area (they near converged) and stayed mostly above that level (there was one brief dip on a single hourly bar) for the London morning session.

As New York traders arrived, the pair started to lose steam and broke below those converged moving average levels increasing the bearish bias. Buyers turned to sellers, and the price has continued the fall. In the process, the price moved below its 100 day moving average at 0.92075. That moving average is now close risk for sellers/shorts. Stay below keeps the bears firmly in control.

On the downside, the 0.9186 to 0.9190 area is the next target followed by the 200 day moving average at 0.91776. On Friday, the price dipped below that moving average line but quickly rebounded, and then used the level as support before moving higher.