The USDCHF trades to a new low going back to December 2023

The USDCHF is trading to a new low going back to the end of December 2023. The price has moved below the lows from 2024 which had swing lows between 0.8375 and 0.8431 (see lower yellow area and Red numbered circles on the chart above).

The swing low from December 2023 reached 0.83318. That is the lowest level going back to 2011 (not shown). Move below that level and the door opens for further selling.

For sellers looking for more USD selling, the swing area (risk) between 0.8375 and 0.8431 is now resistance (see renumbered circles in the chart above). Putting it another way, buyers would need to get above that area to have some hope. Until then, the buyers are losing.