The USDCHF has moved down to test a swing area
The USDCHF has seen a sharp fall over the last three trading days.
Technically, the price moved back below its 100 day moving average at 0.92128 and its 200 day moving average at 0.91636 trading yesterday. Today, the price moved down to test the low price from late December/early January and going back in time (see green numbered circles and lower yellow area). That area comes between 0.9081 and 0.91014. The low price reached 0.90911.
Dip buyers can lean against the swing area with stops on a break below. Move below and the August low at 0.90173 becomes the next major target on the daily chart.
Stay above and bounced higher and resistance of the daily chart is back at the 200 day moving average at 0.91636..
