USD/CHF is still trading between the hourly resistance at 0.9573 (29/05/2015 high) and the hourly support at 0.9287 (22/05/2015 low). The technical structure suggests a test of the hourly support. Stronger support lies at 0.9072 (07/05/2015 low). In the short-term, the pair currently lacks momentum but we remain bearish over the next few weeks.

In the long-term, there is no sign to suggest the end of the current downtrend. After failure to break above 0.9448 and reinstate bullish trend. As a result, the current weakness is seen as a counter-trend move. Key support can be found 0.8986 (30/01/2015 low).

Daily Technical Report