The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy.
The move to the downside was started with the high stalling near the high from yesterday at 0.98602. The high today reached 0.98583. The near double top and inability to get above the high from yesterday gave the sellers the go-ahead to push lower
the US session low price (at 0.9783) did take out the early European low (at 0.9786), but remains well above the rising 100 hour moving average currently at 0.97588 along with a rising trend line on the hourly chart connecting highs from Wednesday and Thursday.. It would take a move below those levels to increase the bearish bias.
