USD/CHF Price Analysis: Dollar vulnerable below 0.9800 figure vs. Swiss franc

 

 

After hitting fresh 2020 highs, USD/CHF erased gains and tumbles near five-day lows. The spot is trading below the 100/200-day simple moving averages suggesting an overall bearish momentum in the long term.

 

 

The market is consolidating last week’s losses in the 0.9800/0.9770 zone while challenging the 100 SMA on the four-hour chart. As USD/CHF is weakening the spot is vulnerable to the downside, especially on a break below the 0.9770 support level which can lead to an extension towards the 0.9730 and 0.9710 levels. The 0.9800 figure and 0.9830 levels are seen as resistances on any bullish attempt.