Approaches low close for they year at 0.9534

The USDCHF is also taking on some dollar selling pressure. It is trading at 8 week low (not since Brexit) and in the process is working toward the low closing level for the year at the 0.9534. The low has reached 0.9544 so far.

Other targets on the downside comes in at 0.9520, 0.9497 and the low print for the year at 0.94435.

The pair is under pressure (see chart below), but there is a lower trend line which may give sellers cause for pause. Shorts may lean against the line on tests but the overall bias remains more bearish.