100 hour MA, 38.2% and 200 hour MA
The price of USDCHF reached a swing high area from Feb 8 and Feb 9 (see red circles) at 0.9408. That ceiling held and the price started its fall lower.
The fall has now taken the price to the start of a key cluster of support. That cluster includes the 100 hour MA (blue line) at 0.93308, the 38.2% of the move up from the Feb 16 low at 0.93238 and the 200 hour MA at 0.93198.
The price is boucing modestly after trading to a low of 0.9328. Looking at the 5 minute chart below, the 38.2-50% retracement of the last trend leg lower comes in at 0.93487-55. That should be a sell area if the sellers are to keep the trend momentum going. Move above, and the waters get a little more muddy for the pair.
