Technical Analysis: Multiple supports, oversold RSI question USDCHF sellers near 3-month low
USDCHF bounces off the mid-March bottom while trading around 0.9450 amid the early Thursday. The pair seems to take clues from oversold RSI conditions while staying near the short-term key horizontal support, around 0.9420/10 area, comprising the early-March levels. During the pair's pullback moves, 0.9500 and May-start low around 0.9590 could lure the buyers ahead of pushing them to confront a 100-day SMA level of 0.9670. However, 61.8% Fibonacci retracement and 200-day SMA, respectively near 0.9700 and 0.97770 could challenge the bulls afterward.
On the contrary, the pair's declines below 0.9410 may take a rest near 23.6% Fibonacci retracement level of 0.9380, a break of which highlights the importance of 0.9320/15 rest-zone. In a case where the USDCHF prices remain downbeat past-0.9315, 0.9250 and March month low of 0.9181 might return to the charts.