USD/CHF may fall 29 - 39 pips

0.8874 is our pivot point.

Our preference

The downside prevails as long as 0.8874 is resistance.

Alternative scenario

The upside breakout of 0.8874, would call for 0.8892 and 0.8903.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8861 and 0.8862).

Supports and resistances

0.8903 **

0.8892 *

0.8874 **

0.8867

0.8856 last

0.8827

0.8817 **

0.8806 *

0.8795 **

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