The USDCHF continued its bearish momentum yesterday , topped at the 0.8890 levels . This development leaves the pair targeting the 0.8775 levels where a breach is likely , If seen It will target the the 0.8700 levels , a halt is in sight , but losing the 0.8700 levels will turn focus on the 0.8570 levels , more losses will aim the 0.8430 levels .
On the upside , minor resistance comes at the 0.8830 levels , stability below this level will keep the pair under pressure , break of 0.8830 would open main resistance at the 0.8890 levels , a halt is strongly suggested , but If this important resistance is taken out , a short bottom will be confirmed , If seen , next resistance will be 0.8930 ahead of the 0.9000 ….
In all , as long as resistance 0.8890 holds on a daily basis , the USDCHF will remain based to the downside with risk towards the 0.8775/0.8700 levels . break of the 0.8890 levels would reverse risks towards the 0.8930/0.9000 levels before the next possible fall.