USD/CHF Price Analysis: Bears are in the market and eye a break of 0.9120
- USD/CHF is being offered but the bears need to get below the support near 0.9120.
- The pair is being resisted at key structure across the time frames.
USD/CHF is running into offers again as the following technical analysis will illustrate. Meanwhile, the US Dollar rose against most major peers on Wednesday and was 0.22% higher on the day printing a high of 102.78 at one point. Nevertheless, the CHF ran into offers and stays bearish as follows:
USD/CHF M5 chart
The 5-minute charts show the price moving lower into bearish territory again after the break of structure, BoS, from the prior day.
USD/CHF H1 chart
The resistance on the hourly chart shows that the price is being resisted.
USD/CHF daily chart
The M-formation is bearish with the price struggling at the neckline resistance.
USD/CHF H4 chart
The bears need to get below the support near 0.9120.