The USDCHF fell below a KEY FLOOR LEVEL that I have been monitoring from a technical perspective at 0.86048. That break opened the door for further downside momentum the price has since fallen below its 200 bar moving average on the 4-hour chart at 0.8573 (see chart below), and the 38.2% retracement of the move up from the December low at 0.85765 Staying below those levels will keep the sellers firmly in control at least in the short-term for the USDCHF.