USD/CHF is expected to further decline. The pair is heading downward within its intraday falling channel in place. The relative strength index is bearish below its neutrality area at 50. In addition, both the 20-period and 50-period moving averages are turning down, and should confirm a negative outlook.
Hence, as long as 1.0050 holds on the upside, expect a new pullback to 0.9990 and 0.9950 in extension.
Resistance levels: 1.0080, 1.0120, 1.0180
Support levels: 0.9990, 0.9950, 0.9900
The material has been provided by InstaForex Company - www.instaforex.com