February 1, 2023

Forex Solution

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USDCHF trades to the lowest level since Feb 23

1 min read

Price is back below the 100/200 day MA

The USDCHF has moved lower with the dollar selling today and in the process has moved below and away from both the 100 and 200 day moving averages. Those moving averages come in at 0.9073 and 0.9084. The price has has trended down to a low of 0.9077.

Price is back below the 100/200 day MA

Looking at the daily chart, the next target area comes between 0.8978 to 0.8998. That level is home to a number of swing lows and highs. Get below that level and it opens up the door for further downside potential.

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