USD/CHF is expected to prevail its downside prevails. The pair broke below its 20-period and 50-period moving averages and accelerated on the downside. The downward momentum is further reinforced by its declining 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias. The relative strength index is bearish below its 30% level.
The U.S. dollar found itself on the defensive side as traders adjusted their positions amid uncertainty over the U.S. presidential election. Polls showed a tightening race between Donald Trump and Hillary Clinton following Friday's announcement that the FBI found new evidence in its investigation of Mrs. Clinton's emails.
As long as 0.9815 holds on the upside, look for a further drop toward 0.9670 and 0.9630 in extension.
Resistance levels: 0.9840, 0.9870, 0.9910
Support levels: 0.9670, 0.9630, 0.9600
The material has been provided by InstaForex Company - www.instaforex.com