• USD/CHF takes offers to refresh intraday low inside bearish chart pattern.
  • Failures to cross 200-HMA, descending RSI add strength to bearish bias.
  • Bulls need a clear upside break of 0.9180 to retake control.

USD/CHF drops the most in a week, refreshing intraday low to 0.9145 ahead of Friday’s European session.

In doing so, the Swiss currency (CHF) pair justifies repeated failures to cross the 200-HMA while poking support line of a short-term bearish chart pattern, namely ascending triangle.

That said, the USD/CHF sellers need a clear break of 0.9145 to confirm the bearish breakdown, which in turn will direct the pair towards the monthly low of 0.9092. However, November’s bottom of 0.9088 will test the further downside.

Meanwhile, the corrective pullback will initially be challenged by the 200-HMA level of 0.9165.

Following that, the upper line of the stated ascending triangle, also forming ‘double top’, will challenge the USD/CHF bulls around 0.9180.

In a case where USD/CHF rises past 0.9180, the 0.9200 threshold may act as a buffer during the quote’s rally towards January 12 swing low near 0.9230.

USD/CHF: Hourly chart

Trend: Further declines expected

Additional important levels

Today last price 0.9145
Today Daily Change -0.0035
Today Daily Change % -0.38%
Today daily open 0.918
Daily SMA20 0.9171
Daily SMA50 0.9215
Daily SMA100 0.9216
Daily SMA200 0.9164
Previous Daily High 0.9181
Previous Daily Low 0.9139
Previous Weekly High 0.9278
Previous Weekly Low 0.9092
Previous Monthly High 0.9295
Previous Monthly Low 0.9102
Daily Fibonacci 38.2% 0.9165
Daily Fibonacci 61.8% 0.9155
Daily Pivot Point S1 0.9152
Daily Pivot Point S2 0.9125
Daily Pivot Point S3 0.911
Daily Pivot Point R1 0.9194
Daily Pivot Point R2 0.9209
Daily Pivot Point R3 0.9236



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