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  • USD/CHF starts May on the defensive amidst USD weakness. 
  • The level to beat for bears is the 0.9600 figure.  
 

USD/CHF daily chart

 
 
USD/CHF is trading below the main SMAs on the daily chart as the US Dollar Index is down across the board. The spot is testing a swing low located near the 0.9600 level.
 

USD/CHF four-hour chart

 
Dollar/Swiss is challenging the 0.9600 figure as the market trades below the main SMAs on the four-hour chart. Bears remain firmly in control with little to no hope of a significant pullback for now. A break below the 0.9600 figure should attract further selling to lower levels with bears setting their eyes on the 0.9550 and 0.9450 price levels. 
  

Additional key levels