USD/CHF may fall 28 - 38 pips

0.8453 is our pivot point.

Our preference

The downside prevails as long as 0.8453 is resistance.

Alternative scenario

Above 0.8453, look for 0.8471 and 0.8481.

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 is trading under both its 20 and 50 period moving average (respectively at 0.8458 and 0.8466).

Supports and resistances

0.8481 **

0.8471 *

0.8453 **

0.8447

0.8439 last

0.8411

0.8401 **

0.8391 *

0.8381 **

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