USD/CHF declines to 0.9195, down 0.14% on a day, during the early Thursday trading. In doing so, the Swiss franc fails to respect Wednesday’s pullback from 50-day EMA amid bullish MACD.
As a result, the pair’s further selling may wait for a clear downside break of the said EMA, currently near 0.9190, while targeting August 20 top surrounding 0.9160.
Though, any more weakness below 0.9160 will be challenged by an upward sloping trend line from September 01, at 0.9110 now.
Alternatively, a clear break of August month’s high near 0.9245 will push USD/CHF prices towards a 100-day EMA level of 0.9296.