USD/CHF Price Analysis: Pulls back from short-term range resistance

• USD/CHF steps back amid declining RSI from the overbought area.
• 200-hour SMA adds to the support whereas 100-day SMA, late-December 2019 top acts as the key upside barriers.

USD/CHF declines to 0.9776 while into the European session on Thursday. Even so, the pair keeps the four-day-old trading range intact.

That said, the quote’s current pullback seems to drag it towards 0.9760 ahead of the formation’s support near 0.9740.

In a case prices slip below 0.940, a 200-hour SMA level of 0.9733 can add barriers to the pair’s drop towards 0.9700 and February 05 low near 0.9677.

Alternatively, an upside clearance of 0.9790, comprising the range’s resistance, needs to cross 0.9800 round-figure to take aim at 100-day SMA and December 24, 2019 high near 0.9880.

USD/CHF hourly chart

Trend: Sideways