The USD is trending lower in the early U.S. session, and the USD/CHF is no exception. Technical factors are reinforcing this move, with sellers stepping in at the key 100-hour moving average (MA), located at 0.9112. The pair tested this level multiple times on the hourly chart but failed to break above it, prompting a reversal to the downside.
Currently, the price is testing support at the 0.9077 level. A sustained move below this point would open the door to further downside targets, starting with the day's low at 0.90507. Beyond that, the next significant level is the 38.2% Fibonacci retracement of the December low to January high rally, sitting at 0.90209. If sellers can push and hold the price below this retracement, it would signal a shift toward stronger bearish control.
However, until the 38.2% retracement is convincingly broken, the current decline remains a standard correction within the broader trend. For now, sellers have the upper hand below the 100-hour MA, but further downside targets must be breached to solidify the bearish bias in both the short and medium term.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf follows the usd lower after holding resistance at a key ma level what next was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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