USD/CHF New York Price Forecast: Dollar consolidates last week’s losses near 0.9800 figure

 

 

Last week, after reaching fresh 2020 highs, USD/CHF erased the gains and dropped near five-day lows. The spot is trading now below the 100/200-day simple moving averages suggesting an overall bearish bias in the long term.

 

 

Following the sharp move down below 0.9830 support, sellers are likely looking for a bearish extension targetting the 0.9730 and 0.9710 price levels. The 0.9800 figure and 0.9830 resistance are likely to act as resistance on any bullish attempt.