Overview:

• It is necessary to consider that the price of USD/CHF pair has still located between points of 0.8933 and 0.8870, i.e. above the strong resistance level of 0.8840. The pair has already formed strong resistance at this level of 0.8840 and is presently approaching further testing. Therefore, the price of the USD/CHF pair is expected to go downwards following the structure which does not look corrective. So, it is indicating the bearish opportunity below the 0.8940 level. Sell deals are recommended below 0.8940 with the first target seen at the 0.8883 level. Consequently, the downtrend is likely to continue its bearish movement towards the 0.8835 level. Moreover, it is crucial that the price has probably formed a strong support at the 0.8800 price this week. The saturation is likely to take place around 0.8800 (it should be noted that the level of 0.88 is going to form the double bottom in H4 chart). Accordingly, it is possible that the market will start showing the signs of bullish behaviour. In other words, buy deals are recommended above 0.88 in the long term with the first target seen at the 0.8850 level, if the trend will be able to break the minor resistance at 0.8883, then it might resume to 1.8930.