The USDCHF continued its losses last week, topped at the 0.8930 levels. This development leaves the pair targeting the 0.8670 levels. A halt is likely, but a breach will turn the focus on the 0.8540 levels, further losses will aim the 0.8400 levels.
On the upside. A bullish correction towards the 0.8840/0.8880 levels is likely before attacking the 0.8670 levels, above 0.8880 would challenge the main resistance at the 0.8930 levels, a break will confirm short term bottoming and reverse risks to the upside towards the 0.9000/0.9080 levels.
In all, as long as resistance 0.8930 holds on a weekly basis, the USDCHF will remain biased on the downside towards the 0.8670 levels ahead of 0.8540 levels, a break of 0.8930 will reverse risks towards the 0.9000/0.9080 levels.