Sellers assume a little more control
The USDCHF has moved below a swing floor area between 0.9164 and 0.9172 (see red numbered circles on the hourly chart below). That area was home to a number of swing lows going back to June 17.
Earlier today, the price dipped below its 100 hour moving average at 0.9191 currently. That break tilted the bias more to the downside. NOTE that going back to June 16, the pair based against the 100 hour moving average before racing higher (FOMC day).
The run higher last week took the price above its 100 day moving average (currently at 0.91234). If the price can now stay below the 0.9172 level now (high of the swing area), that 100 day moving average would be the next major target (at 0.91234. PS the 38.2% retracement of the June trading range is also near that level at 0.91189).
Just above that key MA is a swing low from last Thursday's trade at 0.9132.
IF buyers are to lean, that area between 0.91189 and 0.913221 would be where buyers show up with stops on a break below.