USD/CHF may fall 23 - 33 pips

Our pivot point is at 0.8956.

Our preference

The downside prevails as long as 0.8956 is resistance.

Alternative scenario

The upside breakout of 0.8956, would call for 0.8974 and 0.8985.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8954 and 0.8954). Finally, the USD/CHF is trading below its lower Bollinger band (standing at 0.8936).

Supports and resistances

0.8985 **

0.8974 *

0.8956 **

0.8949

0.8936 last

0.8913

0.8903 **

0.8892 *

0.8881 **

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