USDCHF flips from more bullish to more bearish.

<p>Like all the other major currency pairs, the USD moved higher vs the CHF soon after the US jobs reports, then reevaluated the data. The ISM services data pointed to a less positive jobs picture and growth prospects, and the price action in the USDCHF was back to the downside. </p><p>On the move higher, the pair found willing sellers against the 50% midpoint of the move down from the December high. The subsequent move lower, has now taken the price below the converged 100/200 hour MAs at 0.84865. That area is now close risk. Stay below is more bearish in the short/medium term.</p><p>The next key target comes in at 0.84504. Move below it, and the sellers take more control. </p><p>The above video outlines the technicals in play. </p>

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