The USDCHF maintained a bearish momentum yesterday , topped at the 0.9811 levels and bottomed at the 0.9632 levels . This development leaves the pair targeting the 0.9500 levels , a halt is strongly suggested but a cut would open 0.9300 next , further down will target the 0.9130 levels.
On the upside , resistance comes at the 0.9811 levels , break of 0.9811 on a daily closing basis will restore the upside momentum and open 1.0068 levels ahead of the 1.0127 levels.
In all , as long as 0.9811 resistance holds on a daily closing basis , outlook in USDCHF remains on the downside towards the 0.9500 levels ahead of the 0.9300 levels , above 0.9811 will restore the upside momentum and pave the way towards the 1.0068/1.0127 levels.
Note that I’d expect strong support from the 0.9500/0.9288 levels to contain fall from 1.0127 levels and bring rebound , however ; a clear break below the 0.9288 levels will have large bearish implication towards the 0.7804 levels…