USD/CHF Falls

The USD/CHF has been falling for the rest couple of weeks as the pair reached the overbought level just a few pips above parity. The exchange rate fluctuated around parity for days before breaking the trend to the downside.

The pair is now trading at 0.9862 with a low of 0.9845. Next bear target could be the 50SMA standing at 0.9799, second target is the 200SMA which could present a challenge for the bears at 0.9706.

Major bear target is seen at 0.9200 which could come if the US economy worsens, the stock market sells off and the interest rate goes higher.

Chart: USD/CHF D1