USD/CHF may fall 21 - 32 pips

Our pivot point stands at 0.8672.

Our preference

The downside prevails as long as 0.8672 is resistance.

Alternative scenario

Above 0.8672, look for 0.8689 and 0.8700.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8659 and 0.8661).

Supports and resistances

0.8700 **

0.8689 *

0.8672 **

0.8665

0.8657 last

0.8636

0.8625 **

0.8615 *

0.8604 **

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