38.2% retracement the next hurdle
Yesterday the USDCHF price cracked below it's 200 day MA but could not muster must momentum.
Today, the price is cracking again at 0.97481 and there is more momentum this time. The price has moved to 0.9734 so far and approaches the 38.2% at 0.97306. A move below that level opens up more downside for the pair.
At the start of the NA session the USDCHF was mired in a narrow 19 pip trading range (see post here). That was very low.
The run lower has pushed the range to above 50 pips. The price is also now breaking a lower trend line on the hourly chart below.
PS we just moved below the 38.2% on the daily chart too.
