USD/CHF is expected to trade with a bearish outlook as the key resistance is set at 1.0010. The pair is under pressure below the key resistance at 1.0010, which should limit the upside potential. The downward momentum is further reinforced by the declining 50-period moving average. The relative strength index is bearish below its neutrality level at 50.
The U.S. dollar failed to post a rebound after the severe selloff on Wednesday, which was triggered by the Federal Reserve's less aggressive stance on interest rate rises.
Therefore, as long as 1.0010 is resistance, look for a further downside to 0.9920 and even to 0.9900 in extension.
Resistance levels: 1.0045, 1.0070, and 1.0095
Support levels: 0.9920, 0.9900, and 0.9865
