USD/CHF snaps two-day losing streak.
Bearish candlestick formation, sustained trading below 200-day SMA favor further selling.
Bullish MACD, 50-day SMA question the bears.
USD/CHF registers fewer moves while trading around 0.9790 during the pre-European session on Tuesday. The daily chart forms a bearish candlestick pattern but bullish MACD and 50-day SMA could limit further declines.
That said, the bears will be more powerful to aim for 0.9700 if breaking a 50-day SMA level of 0.9740 on a daily closing basis.


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