USDCHF tries to take a step lower and fails.

The USDCHF moved lower earlier today help by the comments about phasing in tariffs from the Trump administration.

The move to the downside from a technical perspective saw the price move below its 100 hour moving average (blue line on the chart below). However, that move was quickly reversed and the next time the price tested the 100-hour moving average buyers leaned against the level pushing the price back to the upside.

Going forward, it would take a move below that 100-hour moving average and staying below that level and then a break below the 200 hour moving average at 0.9112, to increase the bearish bias. Find out about it in the video above.

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