The USDCHF moves lower for the 2nd consecutive day but stalls ahead of MA target

<p>The USDCHF is falling for the 2nd consecutive day and in the process has moved below its 100 bar moving out on the 4-hour chart at 0.87923, but stalled the fall ahead of the 200 bar moving average at 0.873336. The low price also tested the low from 2 weeks ago at 0.87435 and found willing sellers against that level. The swing era between 0.8728 and 0.87435 was also tested before rebounding back to the upside.</p><p>The price currently trades at 0.8786 which is closer to the 100 bar moving average (and 0.87923). However, it will still take a move above that MA level to tilt the bias back in favor of the buyers.</p>

This article was written by Greg Michalowski at www.forexlive.com.