USDCHF: The pair continues to hold on to its broader downside though closing marginally lower the past week. This development leaves the pair targeting the 0.9082 level on the cards where a breach will turn attention to the 0.9000 level. Price hesitation may occur here due to its psycho logical importance and turn the pair back up. However, if taken out, USDCHF will aim at the 0.8929 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, it will have to return above the 0.9382 level to annul its present downside pressure. This if seen will bring further upside offensive towards the 0.9456 level followed by the 0.9511 level and then the 0.9606 level. On the whole, the pair remains biased to the downside in the short term.
