Some profit taking in the pair
It took some time, but the USDCHF was able to crack a little lower after failing to extend "much" above the topside trend line. The pairs next close target is the close from yesterday at 0.9783 and then the 0.97628 level where the 38.2% of the move up from the low from yesterday is found. Trendline support is also near that area
Note that although lower, the buyers have been more in control. Those buyers can turn into sellers or the buyers could show up below. It is up to the sellers to keep the pressure on and get below the next targets to prove they can take back control at these levels.
The 0.9783 is the next hurdle/target for the sellers to get - and stay - below.