USD/CHF may fall 24 - 35 pips

Our pivot point is at 0.8552.

Our preference

As long as 0.8552 is resistance look for 0.8501.

Alternative scenario

The upside breakout of 0.8552, would call for 0.8569 and 0.8579.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8538 and 0.8538).

Supports and resistances

0.8579 **

0.8569 *

0.8552 **

0.8545

0.8536 last

0.8512

0.8501 **

0.8491 *

0.8481 **

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