Forex and Domain

USDCHF: Our broader perspectives on USDCHF remains below. The pair is now considered challenging 0.8897, its 2011 low level where a decisive break will resume its long-term downward trend.

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This will set the scene for the weakness of most to his level psycho 0.8800 with scope level another extension of price to the 0.8700 level, representing all its psycho level. Its daily RSI is low rally and score support this view.

Alternatively, a break and hold above the level of the 0.9340 will have to reverse its current bear pressure and then open more upside risk to the 0.9368 level, its Mar 09'2011 high. We expect that the level of earnings cap and transform it if tested lower pair, but if this operation fails, additional force may develop towards the 0.9503 level.

Overall, the pair remains vulnerable to the downside and seeks to resume its long term downward trend.