USD/CHF trades southwards near the lowest since March 10.
Oversold RSI can trigger the pair’s bounce off a descending trend line from March 30.
Bulls may refrain entries, even for short-term, unless witnessing a daily close past-21-day SMA.

USD/CHF stays offered around 0.9320, down 0.12% on a day, while heading into the European markets’ open on Wednesday. The quote refreshes the multi-day low following its U-turn from 21-day SMA.

Although bears have all the reasons to recall sub-0.9300 area back to the chart, oversold RSI suggests the pair’s corrective recoveries from 0.9305 mark comprising a four-month-old support line.

In a case where the aforementioned trend line fails to defend 0.9300, 0.9265 and the yearly bottom around 0.9180/85 could lure the sellers.

Meanwhile, a 21-day SMA level of 0.9427 acts as the immediate key resistance for the pair traders to watch as a break of which could trigger short-term recoveries targeting 0.9500 threshold.

Should there be a clear rise past-0.9500 round-figures, 0.9555/50 can act as a buffer before fueling the quote to a falling trend line from March 23, at 0.9600 now.

USD/CHF daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.9319
Today Daily Change	-12 pips
Today Daily Change %	-0.13%
Today daily open	0.9331

Trends
Daily SMA20	0.9433
Daily SMA50	0.9532
Daily SMA100	0.9593
Daily SMA200	0.9701

Levels
Previous Daily High	0.9398
Previous Daily Low	0.9321
Previous Weekly High	0.9468
Previous Weekly Low	0.937
Previous Monthly High	0.9651
Previous Monthly Low	0.9376
Daily Fibonacci 38.2%	0.9351
Daily Fibonacci 61.8%	0.9369
Daily Pivot Point S1	0.9302
Daily Pivot Point S2	0.9273
Daily Pivot Point S3	0.9225
Daily Pivot Point R1	0.9379
Daily Pivot Point R2	0.9427
Daily Pivot Point R3	0.9456

USD/CHF Price Analysis: Sellers attack 0.9300 near four-month bottom