The USDCHF is lower on the day and testing a swing area dating back to April to June 2024 between 0.9086 and 0.90978. If the sellers are going to push, it is necessary to get and stay below the high of that swing level (up to the 0.9100 level).
On the downside, the rising 100-hour moving average comes in at 0.9058. If the sellers are going to take more control today and in the future, they need to get and stay below that moving average (blue line on the chart below).
Price last moved below that moving average on December 20th on its way to a test of its 200-hourly moving average (green line on the chart below). However, on the next day (December 23). The price moved back above the 100-hour MA starting the next move as a move higher. The price extended yesterday's high to 0.91366.
If the price comes back above the 0.9100 level, yesterday's high price of 0.91366 would be the next main target.
On the other hand, by staying below, traders would be looking towards the 100-hour MA increase.
