A selling rush has push the price below its 200 hour moving average and now below the lows from yesterday and earlier today
The USDCHF is pushing sharply to the downside.
The pair has cracked below its 200 hour moving average at 0.92086, and the 38.2% retracement at 0.9202 and the low from earlier today and yesterday at 0.91899 and tests the swing area between 0.9184 and 0.91889. On further weakness, the 50% retracement of the move up from the September 15 low comes in at 0.9173. A swing area comes in between 0.91658 and 0.91722.
The pair yesterday initially tested its 200 hour moving average, bounced and returned back to that moving average. The price did extend below the MA level but ran into the swing area just below at 0.9184 to 0.91889. The high reached in the last hour, reached a upper swing area at 0.92448 and 0.92496. Also near that level was the falling 100 hour moving average at 0.9249. The high price today reached 0.92439 before the selling began.
The fall to the downside looks more more like quarter end/ month end fixing flows. That fixing takes place at the top of the hour.