USD/CHF may fall 22 - 32 pips

Our pivot point stands at 0.8641.

Our preference

The downside prevails as long as 0.8641 is resistance.

Alternative scenario

The upside breakout of 0.8641, would call for 0.8658 and 0.8669.

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 0.8638 and 0.8649).

Supports and resistances

0.8669 **

0.8658 *

0.8641 **

0.8634

0.8626 last

0.8604

0.8594 **

0.8583 *

0.8573 **

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