Run to upside today did could not reach the June highs
The USDCHF has moved lower over the last three hours and in the process is back down testing the 0.9199 level (call it 0.9200).
The move higher today was able to extend above that level and also the swing highs from June 22 and June 28 at 0.92127. The high price extended to 0.92325.
That high fell short of the June high price of 0.92385 leading to buyers turned sellers of the last few hours.
The next key targets come in at the 200 hour moving average at 0.91879 and the 100 hour moving average at 0.9185. During yesterday's trade, the price based against the 100 hour moving average and found support buyers. A move below both the 200 and 100 hour MAs tilt the bias more to the downside (recall the price also successfully tested the 200 hour moving average on Friday).
Buyers had their shot above 0.92127. Sellers are now taking their shot below the 0.9199 level. If that can be done and the rising 200 and 100 hour MAs be broken, the sellers would be in a stronger technical position.