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  • USD/CHF dropped for fourth straight day on Friday, eyes Nov. 9 low of 0.8980. 
  • Key daily chart indicators are alinged in favor of the bears.

USD/CHF fell by 0.18% on Friday, having faced rejection at the downward-trending 100-day Simple Moving Average (SMA) in the preceding week. 

Essentially, the pair has carved out a bearish lower high over the past two weeks and now looks set to test the Nov. 9 low of 0.8980. 

Backing the bearish view are the descending 5- and 10-day SMAs and a below-50 reading on the 14-day Relative Strength Index. 

A close above the 100-day SMA, currently at 0.9142, is needed to put the bulls back into the driver’s seat. 

Daily chart

Trend: Bearish

Technical levels