USD/CHF technical analysis: Bears in the driver's seat while the market is at multi-day lows

USD/CHF daily chart

USD/CHF bears are driving the market to its lowest point in the last 15 sessions.

 


USD/CHF 4-hour chart


USD/CHF is trading below the 50 and 100 SMAs suggesting a correction down in the medium term.
USD/CHF is testing the 38.2 Fibonacci retracement from March low-April high. 
There is scope for further weakness to 1.0060 the 50% Fib retracement.


USD/CHF 30-minute chart


Sellers have been relentless on Friday as the market is trying to break below 1.0100 level. A breach below it, would open the gates to 1.0080 and 1.0060 level. 
Immediate resistance is seen at 1.0120 and 1.0150 level.


Additional key levels

 

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