- USD/CHF current fall started from 0.9105.
- Oversold RSI cautions the bears.
- Bulls are waiting for a break above 0.9200
USD/CHF was down to 0.9097 ahead of the European opening on Friday. The oversold RSI and the weekly Doji hasn’t deterred the bears from pushing the pair down in the last days.
The selling might abate near the support from a multi-week falling trend line near 0.9075 and the monthly low at 0.9050. Also, 0.9000 is prominent support for USD/CHF. A breakthrough at these levels can take the pair down to July 2014 low near 0.8850.
Some buying might emerge if USD/CHF holds above 0.9050 in the weekly close, targeting a bounce to 0.9200 – a critical level above which buying momentum can develop.