The USDCHF continued its bearish momentum last Friday , printed resistance at the 0.8889 levels. This development leaves the pair targeting the 0.8670 levels , a halt is likely , but losing the 0.8670 levels will turn focus on the 0.8540 levels , further losses will aim the 0.8400 levels.
On the upside , a bullish correction towards the 0.8835 levels is likely before falling to the 0.8700 levels , break of 0.8835 would challenge the main resistance at 0.8890 /0.8915 levels . break of 0.8915 levels on a daily basis will confirm short term bottoming and reverse risks to the upside towards the 0.9000/0.9040 levels.
In all , as long as 0.8890/0.8915 levels hold on a daily closing basis , the USDCHF will remain based to the downside towards the 0.8760 levels , break of 0.8915 levels would reverse risks towards the 0.9000 levels.