USD/CHF may fall 25 - 36 pips

Our pivot point stands at 0.8750.

Our preference

The downside prevails as long as 0.8750 is resistance.

Alternative scenario

The upside breakout of 0.8750, would call for 0.8768 and 0.8778.

Comment

The RSI is below its neutrality area at 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 0.8748 and 0.8763).

Supports and resistances

0.8778 **

0.8768 *

0.8750 **

0.8743

0.8734 last

0.8709

0.8698 **

0.8688 *

0.8677 **

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