USD/CHF may fall 34 - 49 pips

Pivot

0.8585

Our preference

Short positions below 0.8585 with targets at 0.8545 & 0.8530 in extension.

Alternative scenario

Above 0.8585 look for further upside with 0.8600 & 0.8610 as targets.

Comment

As long as 0.8585 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

0.8610

0.8600

0.8585

0.8579 Last

0.8545

0.8530

0.8510

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