Support at 200 day MA/Resistance at the 100 day MA
The USDCHF is trading between the goal posts. I define the "goal posts" as the 100 and 200 day MA. The MA are far enough apart to attract buyers at the lower MA and sellers at the higher MA. At some point, the MA will be broken - above or below - as a result of some catalyst, and you get a momentum move.
In the meantime traders are leaning against the 100 day MA (at 0.99975) waiting for that push.
If we are to probe lower now (after holding below the 100 day MA), watch the 0.9939 to 0.9945 area. The 0.9945 level is the 50% of the move up from the November low. Drilling to the hourly chart, (see below) the 0.9939 level is the 200 hour MA (green line in the chart below). It also is near trend line support on that chart. At the low today, that trend line held. It is moving up and within a few pips of that MA line now (and getting closer)..
With the 50% at 0.9945, and the trend line and 200 hour MA at 0.9939, that area becomes the line in the sand for a more bullish bias should there be a correction lower. .
Although we are between the goal posts on the daily chart, drilling into the hourly chart is showing that the buyers are trying to take more control in the USDCHF. However, until the 100 day MA is broken with momentum, trade the key levels including the 0.9939-45. If that is broken, do not be surprised to see the market to head back toward the 200 day MA line for another look.