- USD/CHF slips below 0.9200 to refresh intraday low.
- Bulls can ignore MACD unless witnessing a break of 100-day EMA.
- One-month-old support line on the bears’ radar, the late-August top can offer intermediate halt.
USD/CHF declines to 0.9195, down 0.14% on a day, during the early Thursday trading. In doing so, the Swiss franc fails to respect Wednesday’s pullback from 50-day EMA amid bullish MACD.
As a result, the pair’s further selling may wait for a clear downside break of the said EMA, currently near 0.9190, while targeting August 20 top surrounding 0.9160.
Though, any more weakness below 0.9160 will be challenged by an upward sloping trend line from September 01, at 0.9110 now.
Alternatively, a clear break of August month’s high near 0.9245 will push USD/CHF prices towards a 100-day EMA level of 0.9296.
In a case where the bulls keep the reins above 0.9300, the early-July low near 0.9360 will gain the market attention.
USD/CHF daily chart
Trend: Further weakness expected
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