USDCHF today reversed down from the pivotal multi-candle resistance level 0.89100 (which has been repeatedly reversing the price from the start of December) – intersecting with the upper daily Bollinger Band and the 38.2%
Fibonacci correction level of the previous sharp downward impulse from November. Given the strength of downtrend that can be seen on the daily Swiss franc charts – USDCHF is expected to fall further toward the next support level 0.88500 (previous daily low) – the breakout of which can lead to further losses toward the next support level 0.87700 (low of the Morning Star from last week).