USD/CHF may fall 24 - 35 pips

Our pivot point is at 0.8637.

Our preference

Under pressure below 0.8637.

Alternative scenario

The upside breakout of 0.8637, would call for 0.8655 and 0.8665.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8622 and 0.8623).

Supports and resistances

0.8665 **

0.8655 *

0.8637 **

0.8630

0.8618 last

0.8594

0.8583 **

0.8573 *

0.8562 **

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