USD/CHF Price Analysis: Eases from 100-HMA to remain below 0.9100
|- USD/CHF seesaws around the intraday low of 0.9076, down for the sixth consecutive day.
- Normal RSI conditions favor the pullback towards the weekly low.
- The 0.9100 threshold adds to the upside barriers.
USD/CHF drops to 0.9078, down 0.05% on a day, ahead of Wednesday’s European session. The Swiss major recently took a U-turn from 100-HMA amid normal RSI conditions.
As a result, traders can expect further weakness in the USD/CHF prices towards the weekly bottom of 0.9060.
However, 0.9050 and the monthly low near 0.9000 will challenge the bears afterward.
Meanwhile, an upside clearance of a 100-HMA level of 0.9085 needs validation from 0.9100 to aim for the 61.8% Fibonacci retracement of September 08-10 downside, around 9145.
During the USD/CHF pair’s further upside beyond 0.9145, the September 08 low of 0.9156 can question the bulls targeting the monthly top of 0.9200.
USD/CHF hourly chart
Trend: Bearish
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