Overview:
USD/CHF is consolidating with bearish bias after hitting five-month low of 0.9210 on Wednesday. The rate is undermined by broadly weaker demand for safe-haven USD amid positive global risk sentiment; rise in Swiss ZEW-Credit Suisse indicator of economic sentiment to minus 28.9 in October from September's minus 34.9. Data focus: 06:00 GMT Swiss September trade balance.
Preference:
As daily chart is still showing bearish trend. Short position is recommended below 0.925 with first target 0.921 and in extension 0.919.
Support Levels:
S1 - 0.9210 (Wednesday's low)  
S2 - 0.9191 (May 8 low) 
S3 - 0.9175 (May 1 reaction low)   
Alternative scenario:
In case if the price moves above 0.925 look for further upside with first targets 0.927 and 0.9315.
Resistance Levels:
R1 - 0.927
R2 - 0.9315
R3 - 0.9337 (Tuesday's high)
Comment:
As long as 0.925 is resistance, look for choppy price action with a bearish bias. Daily chart is negative-biased as stochastics is bearish; MACD staged bearish crossover against its exponential moving average; five-day moving average is below 15-day MA and falling.