USD/CHF hit stops earlier after hitting stops below the 55-day moving average at 0.9128 along with breaking Thursday’s low of 0.9124.
The selling has been limited by the 38.2% retracement of the rally since late October and that’s coupled with a cluster of support around 0.9100 (Nov lows).
USDCHF daily with 55dma
I don’t like the long side because of the trend of broad US dollar weakness and the potential for risk aversion on a correction in stocks. Selling a break below 0.9100 is a potential trade.