Another new low going back to 2015 for USDCHF but fall stalls at trend line on hourly chart

Trendline support at 0.8849 stalls the fall

The USDCHF fell to another new low going back to January 2015 today, cracking below the low from yesterday at 0.88704 in the process.  

The low price extended to 0.88513. That low, however, found dip buyers ahead of a lower trend line on the hourly chart at 0.8849, and has seen a bounce off the level. The price is trading just above the low from yesterday at 0.88704 currently.

If the dip buyers are to start “winning” more, they need to get the price back above its 100 hour moving average at 0.8896 (blue line in the chart above).  Earlier today (and yesterday), the price did try to get above the level, but failed.  Yesterday the price stayed above the MA level for a few hours before failing. Today, the price was only above the 100 hour MA for 15 or so minutes before rotating back to the downside.  

Buyers are not taking more control, if they cannot get the price back above the 100 hour MA level. 

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