There are no major economic reports in Switzerland so USDCHF will be massively under the influence of global macroeconomic data.
The support rests at 0.98620 with resistance at 0.99120 which the weekly pivot point at 0.98780 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and above the EMA of 100. The RSI is falling towards oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 0.98200.
