USD/CHF may fall 22 - 33 pips

0.8991 is our pivot point.

Our preference

The downside prevails as long as 0.8991 is resistance.

Alternative scenario

Above 0.8991, look for 0.9010 and 0.9020.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8978 and 0.8979).

Supports and resistances

0.9020 **

0.9010 *

0.8991 **

0.8984

0.8975 last

0.8953

0.8942 **

0.8931 *

0.8920 **

Number of asterisks represents the strength of support and resistance levels.