FX.co ★ USD/CHF: Under pressure

Overview:
USD/CHF is trading in lower range. The rate is undermined by weaker USD sentiment; spillover from EUR strength. But USD/CHF losses tempered by CHF-funded carry trades amid increased risk tolerance; positions adjustments ahead of U.S. GDP data and FOMC announcement. Daily chart is negative-biased as stochastic is falling from overbought; MACD staged bearish crossover against its exponential moving average; bearish parabolic stop-and-reverse signal hit at 0.9219 on Tuesday.
Preference:
Sell below 0.923 with targets at 0.9145 and 0.9115 in extension.
Support levels:
S1 - 0.9145
S2 - 0.9115
S3 - 0.9075 (Jan. 2 low)
Alternative scenario:
Buy above 0.923. Above 0.923 look for further upside with 0.927 and 0.932 as targets.
Resistance levels:
R1 - 0.9270 (Tuesday's high);
R2 - 0.9324 (Thursday's high)
R3 - 0.9346-0.9354 band (Jan. 22 high-Jan. 21 high).
Technical comment:
The pair is breaking below its bearish channel lower boundary and should face further weakness.