The USDCHF broke lower after the US CPI data.
While yields moved lower in the US and are still down, they also moved lower in Europe. As a result of the dynamics the technology changed from being more dollar bearish to more bullish dollars.
Looking at the USDCHF, the price fell below its 200-hourly moving average (green line on the chart below at 0.91148) which was a lower move to the downside. However, the trend stopped, the price started to move back higher, and when it returned above its 200-hourly moving average at 0.91148, sellers turned back to buyers.
The price rally moved up to the 100-hourly moving average at 0.91454, where sellers again returned.
What now?
The price is trading between the 200-hour moving average below at 0.91148, and the 100-hour moving average above at 0.91454. The battle is on between buyers and sellers between these levels. Move back below the 200 hour moving average and move the tilt more in favor of the sellers at least in the short term. Conversely move back above the 100 hour moving average at 0.91454, and that tilt will move to the upside.
