0.9869 level is resistance for the USDCHF
The CHF is the weakest of the major currencies today. The USD is the strongest. That makes the USDCHF the strongest of all the pairs and crosses today. It is up 1.04% on the day (see % changes of the major currencies vs each other below).
Technically, the pair just reached the 100 bar MA on the 4-hour chart AND a topside trend line at the same area. That level comes in at 0.69693.
Sellers are leaning on the test. A move below the 0.9853-58 area will give the "topside sellers" confidence that a peak is in place. That is home to swing lows from June 5 and June 7th. The 50% of the move down from the June 19 high is also at 0.98538.
On the topside, I would expect stops if the 0.69693 area can be broken and there is some momentum/acceptance of the break of the topside resistance levels. .
(PS. Thank you Ben for the heads up).
