The USDCHF fell below its 100 hour moving average, the swing area and the uptrend line near 0.8956. That sent the short-term bias to the downside. That trend continued to the next key target area defined by the rising 200 hour moving average (green line on the chart above) and a swing area between 0.8914 and 0.8923. The price reached a low of 0.8915, and has rebounded slightly. today stands at 0.892 $.
The sports target is kept. Buyers follow. That level can continue, there is a possible move back towards the 100 hour moving average at 0.8956.
On the other hand, if the swing range and the moving average are broken, it would open the door for further selling and downward analysis.
Looking at the daily chart, buyers this week brought the price of the USDCHF to the swing range target between 0.8986 and 0.90178, and stopped the increase (see the chart below). Now with the price turning to the next key support targets the question is can the buyers stop the fall and turn the pair back to the baseline?
