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The USD\/CHF<\/a> extended its losses for two straight days and is down some 0.16%, courtesy of broad US Dollar weakness, undermined by lower US Treasury yields. The major trades at 0.9064 after hitting a high shy of 0.9100.<\/p>\n The daily chart depicts the USD\/CHF as neutral to upward biased, despite buyers losing momentum, as shown by the Relative Strength Index (RSI) shifting bearish. Although the pair has lost some 1.80% after hitting a year-to-date (YTD) high of 0.9224, solid support seen at the confluence of the 50-day moving average and a support trendline at around 0.9006\/30 might cap the pair\u2019s drop.<\/p>\n Looking at the potential for a bullish continuation, the USD\/CHF could see a positive turn if it manages to climb above 0.9100. Once this level is breached, the next immediate resistance level to watch out for would be May 2 high at 0.9174, with a further test at 0.9200.<\/p>\n On the other hand, if bears push prices below 0.9000, that will confirm the \u2018evening star\u2019 chart<\/a> pattern and exacerbate a drop toward the 200-DMA at 0.8887, ahead of the 100-DMA at 0.8829.<\/p>\nUSD\/CHF Price Analysis: Technical outlook<\/h2>\n
USD\/CHF Price Action \u2013 Daily Chart<\/h2>\n