USD/CHF Edges Lower

The USD/CHF pair is trading to the downside so far this week as the US dollar is posting losses against major competitors. The Swiss Franc is appreciating only slightly as we have not yet seen the full impact by the disappointing US report on Friday.

USD/CHF appears poised to go to the downside, as the US dollar has already lost significant points against the Euro, the Sterling and the Yen. The Swiss Franc is yet to follow in their footsteps on the path of appreciation.

How much exactly, depends on the market. As the move is now in its initial stages, we can expect more bears to pile up and push the price down below 0.9760. Anything below that would indicate that the pair is ready to move lower. Major bear target is seen at the triple bottom at 0.9438.

Unless we get some fresh positive news on the US outlook, market sentiment on the pair remains bearish.

Chart: USD/CHF H4