USD/CHF Drops Below 100 SMA Is More Losses Ahead?

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FxNews—USD/CHF pulled back from the 38.2% Fibonacci level and flipped below the 100-period SMA. The immediate resistance rests at 0.870; if it holds, the bears will likely extend the downtrend to 0.857.

A close above the 0.870 critical resistance invalidates the USD/CHF bearish strategy.

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Trade geschlossen: Stop wurde erreicht

The USD/CHF price failed to stabilize below the 100-period SMA. As a result, the uptrend resumed, with the price exceeding the 0.869 immediate resistance.