The USDCHF is trading to new lows and in the process has moved below the 50% retracement target. That level comes in at 0.89763. The fall take the price closer to the rising 100-day MA. That MA comes in at 0.89277.
The price of the USDCHF last traded below the 100 day MA back on March 12 at 0.8754. From that level, the price trended to a high of 0.92237.
Although breaking below the 50%, lower highs and lower lows of late, the 100-day MA does tend to slow moves – at least on the first test. So be aware that dip buyers might look to stick a toe in the water against the level on the first test.
This article was written by Greg Michalowski at www.forexlive.com. Source