Bears will have a tough time above 0.9125

USD/CHF stays heavy after taking a U-turn from 0.9198 the previous day.
50-day SMA, five-week-old rising trend line offer immediate support ahead of previous resistance line from June 30.
Bulls will remain cautious unless crossing September month high, the 0.9200 threshold guards immediate upside.

USD/CHF drops to 0.9154, down 0.17% intraday, during the pre-European session on Friday. In doing so, the quote prices a three-day losing streak.

While the pair’s failures to cross the immediate upside hurdle near the 0.9200 round-figure favors the sellers, a confluence of 50-day SMA and an upward sloping trend line from September 01, around 0.9135 becomes a tough nut to crack for the USD/CHF bears.

Also acting as strong support is a 14-week-long falling trend line, at 0.9125 now, that used to act as a key resistance line before September 23.

Furthermore, the 0.9100 threshold, the mid-September low near 0.9058 and August month’s bottom surrounding 0.8998 are extra downside levels that challenge the USD/CHF south-run.

On the flip side, a clear break above the 0.9200 mark will help the pair to attack the August month’s peak close to 0.9240/45. Though, USD/CHF bulls will remain worries unless witnessing a daily close past the previous month’s top near .9300.