USD/CHF may fall 23 - 34 pips

Our pivot point stands at 0.8993.

Our preference

The downside prevails as long as 0.8993 is resistance.

Alternative scenario

The upside breakout of 0.8993, would call for 0.9011 and 0.9022.

Comment

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

Supports and resistances

0.9022 **

0.9011 *

0.8993 **

0.8986

0.8978 last

0.8955

0.8944 **

0.8933 *

0.8922 **

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