USD/CHF Price Analysis: US dollar down, challenges 0.9700 figure vs. Swiss franc

 

 

USD/CHF is trading down for the second consecutive day after rejecting the 0.9800 figure and the 200 SMA on the daily chart while testing the 0.9700 level and the 100 SMA.  

 

 

 

USD/CHF is easing from the May highs while challenging the 0.9700 figure and the 50/100 SMAs. The spot is losing steam and it is not clear if bulls can support the market above 0.9700. A break below the level could lead to further losses towards lower levels. Resistances can be seen near the 0.9720 and 0.9750 levels.