The USDCHF spent most of the latter part of last week trading above its 200-hour moving average, with the price largely holding that support from Tuesday onward.
There were brief dips below the moving average on Wednesday and again on Friday, but both breaks were modest and short-lived and quickly reversed
The pair ultimately closed Friday above the higher 100-hour moving average, currently at 0.81218, while the 200-hour moving average sits at 0.81075. That technical picture shifted in trading today. The USDCHF rotated lower during the early Asian session, breaking first below the 100-hour moving average and then the 200-hour moving average.
Those breaks increased the bearish momentum and sent the price down to a low of 0.8071, just above a key swing area between 0.8060 and 0.80699. Buyers leaned against that support and pushed the price back higher, but the rebound has so far stalled near the broken 200-hour moving average at 0.81075. The recovery reached roughly 0.8106 before sellers reemerged.