Comment: USD/CHF has eroded the .8554 recent low and is in all time lows. This targets the base of a 7 year channel at .8370.
Currently with the topside blocked by the downtrend at .8858 and this resistance reinforced by .8954/9021 -the 38.2% retracement of the move down from February, the 11 month resistance line and the 55 day ma – the risk will remain on the downside while capped here. Initial resistance lies at .8750
Today’s trade: Attempt small shorts ..8650/70, stops .8750.Cover .8400
Shorter term (1-3 weeks): New lows targets .8370
Medium term (1-3 months): Negative bias below .9021, target .8370.
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