200 day MA stalled the fall today
The USDCHF has been toying on the downside, with the 200 day MA over the last three trading days.
ON Tuesday the 200 day MA was was broken, on two separate occasions only to rocket higher and then tumble back lower back to the 200 day MA near the close.
Yesterday, the 200 day MA was broken on two other occasions, only to move back higher soon after each break (it did not rocket higher this time).
Today the price action in the USDCHF moved higher and found sellers against the 100 hour MA (blue line currently at 0.9214). Then the price moved lower and found support against the 200 day MA this time (at 0.91788).
The price has since moved back higher and looks toward the 100 hour mA at 0.92141.
The pair may be setting up for the jobs report tomorrow with traders going with the flow either above the 100 hour MA or below the 200 day MA and test the sellers conviction (or lack thereof) once again. Needless to say, a break would look to the respective lows this week for selling confimation.
On the topside, a break of the 100 hour MA (currently at 0.92145) would look toward the 50% of the range in November at 0.92266 as the next hurdle to get to, and through (and stay that way).