The MA test is higher each day. Can sellers push the price below?
The USDCHD has run lower as European/London traders look to exit. The price decline has taken the pair back to the 100 hour MA for the 4th consecutive day. The MA currently comes in at 0.94164. The price bounced off the MA on each of the last 3 tests. As I type, the MA is being broken and the price is currently testing the trend line at 0.9410.
Sellers are making a play. The next targets are the recent swing lows with yesterday’s low at 0.9403 as the next target.