The USDCHF is rotating lower as the USD falls with stocks in early US trading

As the US stock market opens sharply lower, there have been a move out of the US dollar. The USDCHF is coming off a new high for 2024 at 0.9090 from earlier today. The price is falling back below high prices from last week’s trading at 0.9071 and 0.9063 respectively. Yesterday’s high price reached 0.90563. That is the next target followed by the 100-day moving average of 0.90368.

In this video, I outline all the levels and play. What would keep the buyers in control? What would hurt the buyers the most?

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