- November 9, 2020
- Posted by: Analysis Team
- Category: Forex News
- USD/CHF wavers around the lowest levels since January 2015.
- Three-day-old resistance line, 200-HMA restrict immediate upside.
- Highs marked during early July 2014 offer nearby support below 0.8982.
USD/CHF stays mildly offered near 0.8996 during early Monday. The pair dropped to the lowest since January 27, 2015, on Friday before the oversold RSI conditions trigger its pullback moves from 0.8982.
However, a downward sloping trend line from last Wednesday, currently around 0.9005, challenges the intraday buyers.
While a clear break of 0.9005 can trigger a corrective recovery towards November 04 low near 0.9090, the 200-HMA level of 0.9116 will act as the key upside hurdle afterward.
On the contrary, fresh selling can wait until the quote drops below 0.8982, which in-turn will target July 07, 2014, high close to 0.8960 as the following support.
Should the USD/CHF bears keep dominating the sentiment past-0.8960, July 2014 bottom and January 20, 2015 high, respectively around 0.8855 and 0.8840/35, will become their favorites.
USD/CHF HOURLY CHART