USDCHF looks toward the 100 hour MA for the 3rd day this week

USDCHF  has 100 hour MA at 0.94031

The USDCHF has moved back to the downside after an earlier run to a new cycle high (and high for the month) ran into resistance near a topside trend line. The pair tried to hold support near 0.94172 (the low in London reached 0.94137 before bouncing), but has more recently cracked lower and looks to test the 100 hour MA at 0.94031. 

USDCHF  has 100 hour MA at 0.94031

The 100hour MA has been tested both on Monday and Tuesday (early) with support buyers were leaning against the level (the MA was lower of course).

Now with the MA higher, buyers will have to show their desire to keep the bias positive above that level.   A move below it, and the trend line below it at 0.9397, would open the downside for further probing.  

The close risk for sellers is now the 0.94172 area. Stay below keeps the intraday bias a little more to the downside. 

The USD is seeing more selling in the North American session. The greenback is now lower vs. all the major currencies with the one exception being the JPY.  However, it is off the highs vs that currency as well.

The USD is moving lower vs most currenceis

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