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USD/CHF: With USDCHF slightly holding below the 0.8889 level, further weakness is envisaged possibly towards the 0.8800 level. Bulls may come in here and turn it higher but if that level is broken expect further decline to occur towards the 0.8750 level.

Further down, support lies at the 0.8700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.8950 level followed by the 0.9000 level and then the 0.9100 level.

Further down, support lies at the 0.9190 level followed by the 0.9249 level. A breach of here will turn attention to the 0.9450 level where a break will turn focus to the 0.9542 level. All in all, the pair remains biased to the downside.

Guest post by  FX Tech Strategy