USD/CHF Price Analysis: Drops to fresh 13-day low under 0.9100
|- USD/CHF teases weekly support line, stays pressured near intraday low.
- Bearish MACD, absence of oversold RSI favor sellers.
USD/CHF declines to the lowest since November 09 during early Thursday. However, a falling trend line from November 17 restricts the pair’s further downside around the intraday bottom of 0.9070.
It should, however, be noted that bearish MACD keeps the USD/CHF sellers hopeful of breaking the immediate support line, which in turn highlights October lows near 0.9030 for the pair traders.
If at all the RSI refrains from oversold territory around 0.9030, the 0.9000 threshold and monthly low near 0.8980 may return to the charts.
Alternatively, the 0.9100 round-figure and a two-week-old falling trend line, at 0.9135 now, can cap the USD/CHF recovery moves.
Also acting as the strong upside hurdle is a monthly falling trend line around 0.9170 and the 0.9200 psychological mark.
USD/CHF four-hour chart
Trend: Bearish
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