USD/CHF technical analysis: Greenback nearing the October lows, consolidating near 0.9870 level

Summary:
USD/CHF is consolidating its losses this Thursday. The level to beat for bears is the 0.9855 support. USD/CHF daily chart On the daily chart, USD/CHF is trading in a range below its main daily simple moving averages (DSMAs). The market is approaching the October low, currently at the 0.9837 price level. USD/CHF daily chart(see more posts on USD/CHF, ) - Click to enlarge USD/CHF four-hour chart USD/CHF is under bearish pressure below its main SMAs as the market is nearing the 0.9855 support level. A break below this level can lead to an extension of the current bear leg towards the 0.9798 price level, according to the Technical Confluences Indicator.  USD/CHF four-hour chart(see more posts on USD/CHF, ) - Click to enlarge USD/CHF 30-minute chart

Topics:
Flavio Tosti considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter, USD/CHF

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