Tilts the trading bias to the downside
The USDCHF has made three separate runs higher today (if you can call them that) that saw lower highs with each high stalling at the 100 hour MA (blue line). Having that history, increases that MAs importance going forward.
Stay below, keeps the sellers more in control. Move above, and traders will be looking for more upside momentum (with the 200 hour MA at 0.92903 as the next stop).
For now however, the sellers remain more in control. The area between 0.92338 and 0.92412 is the next target. The 50% retracement of the move up from the August 27 low comes in at 0.92336. Other swing highs and lows (see green numbered circles) are in that area as well. If the price can move below that area -and stay below (it tried back from September 21 to September 24) - the selling momentum may intensify in the pair.