USD/CHF Price Analysis: Chart studies lean bearish after 4-day losing streak
|- USD/CHF dropped for fourth straight day on Friday, eyes Nov. 9 low of 0.8980.
- Key daily chart indicators are alinged in favor of the bears.
USD/CHF fell by 0.18% on Friday, having faced rejection at the downward-trending 100-day Simple Moving Average (SMA) in the preceding week.
Essentially, the pair has carved out a bearish lower high over the past two weeks and now looks set to test the Nov. 9 low of 0.8980.
Backing the bearish view are the descending 5- and 10-day SMAs and a below-50 reading on the 14-day Relative Strength Index.
A close above the 100-day SMA, currently at 0.9142, is needed to put the bulls back into the driver's seat.
Daily chart
Trend: Bearish
Technical levels
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