USD/CHF Price Analysis: The USD/CHF wicked downtrend continues

• USD/CHF trade 0.46% lower on Wednesday as the greenback suffers across the board.
• CHF has retained some of its safe-haven status this afternoon as both the dollar and stocks drop off.

USD/CHF daily chart

USD/CHF has been falling recently and the trend has become very forceful. On Wednesday's session, the price tested the previous wave low of 0.9376 but so far has not managed to breach the level. A break of the 0.94 psychological level seems to be a key break for the bears and now the main low on the chart is 0.9183.

Both the indicators are looking bearish too. The Relative Strength Index is near the oversold area but still has some room to move to the downside. The MACD histogram has just turned red again and the signal lines are also way below the mid-level. 

To put this move into context, USD/CHF has only been this low on three occasions since August 2015. The SNB will not be too happy about the recent strength in the Swiss Franc and we may see some comments in the coming sessions.

Additional levels