USDCHF: With the pair reversing its previous week gains to close the week lower, the risk is for it to decline further. This development leaves it targeting the 0.9082 level with a violation of here turning attention to the 0.9041 level followed by the 0.9000 level. Price hesitation may occur here due to its psychological importance. On the other hand, if taken out, the pair will target the 0.8929 level. On the upside, the pair will have to return above its trendline resistance to reverse its present weakness and then target the 0.9382 level. This if seen will bring further upside offensive towards the 0.9456 level followed by the 0.9511 level. On the whole, the pair remains biased to the downside in the short term with eyes on the 0.9082 level and beyond.
