USD/CHF technical analysis: Safe-haven flows strengthens the Swiss franc

• China imposes trade tariffs on the US and the CHF and JPY strengthen as investors jump into so-called safe-haven currencies.
• USD/CHF has been dropping sharply in the last sessions, can the bears keep going?

USD/CHF daily chart

USD/CHF is retracing down sharply as it testing the 1.0050 level and the 50 SMA.

USD/CHF 4-hour chart

USD/CHF is trading below its main SMAs suggesting a bearish bias in the medium term.

USD/CHF 30-minute chart

The selling pressure has been consistent since last Thursday. Sellers will try to pierce below 1.0050 top reach 1.0025 and the parity level. On the flip side, bulls will try to recapture 1.0080 and 1.0100 levels. Buyers would need to bring the market above 1.0120 to be out of the woods. 

Additional key levels