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  • USD/CHF remains vulnerable as the market consolidates losses. 
  • The level to beat for sellers is the 0.9770 support level. 

USD/CHF daily chart

Last week, after reaching fresh 2020 highs, USD/CHF erased the gains and dropped near five-day lows. The spot is trading now below the 100/200-day simple moving averages suggesting an overall bearish bias in the long term.

USD/CHF four-hour chart

Following the sharp move down below 0.9830 support, sellers are likely looking for a bearish extension targetting the 0.9730 and 0.9710 price levels. The 0.9800 figure and 0.9830 resistance are likely to act as resistance on any bullish attempt. 
Resistance: 0.9800, 0.9830, 0.9850
Support: 0.9770, 0.9730, 0.9710

Additional key levels