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Sellers continue the run lower in the USDCHF

July 19, 2020 by admin 0 Comments

Testing swing area target.

The USDCHF has moved lower in 9 of the last 10 hourly bars. That has taken the price from 0.9452 to a low in the current hourly low at 0.93827. That move is now testing a swing area (see yellow area) between 0.93838 to 0.93856. There has been some dip buyers sticking a toe in the water so far.

For the week, the low was on Wednesday at 0.93695. The Tuesday low reached 0.9379.

The run to the downside picked up steam after falling below its 100 hour moving average (blue line at 0.94224) and then the 200 hour moving average at 0.94131.

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This article was originally published by Forexlive.com. Read the original article here.