USDCHF is set to extend losses to the 0.8850 levels !

The USDCHF continued its bearish momentum yesterday, topped at the 0.9009 levels and bottomed at the 0.8917 levels. This development leaves the pair targeting the 0.8850 levels, a halt is suggested, but losing the 0.8850 levels would open 0.8770 next, further losses will aim the 0.8680 levels.

On the upside, resistance at the 0.9009 levels, break of this level on a daily closing basis would only delay the bearish move for retesting main resistance at the 0.9133 levels ; To reverse risks to the upside , sustained  trading above the 0.9133 levels is needed ,If seen, the pair will recapture the 0.9190/0.9250 levels.

In all, the USDCHF is likely to return to its medium-term downside bias as long as resistance 0.9009/0.9133 holds on a daily closing basis, break of this level will reverse risks to the upside towards the 0.9190/0.9250 levels.

 

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