USD/CHF Price Analysis: Dollar trading off 17-month lows, remains vulnerable vs. Swiss franc

 

 

USD/CHF is trading below the main daily simple moving averages suggesting an overall bearish momentum in the long term. The spot bounced from 17-month lows however, the sellers should remain in control. 

 

 

USD/CHF is consolidating the weekly losses below the 0.9700 figure and the main SMAs on the four-hour chart. Although a correction above 0.9700 cannot be ruled out, the market remains vulnerable to the downside on a break below the 0.9660 level. Potential downside targets could be seen near the 0.9630 and 0.9580 levels while resistance can be expected near 0.9700 and 0.9730 levels.