USDCHF: Bearish – Falls sharply towards the May lows

USDCHF declines sharply from .9383 (June 15, 2015 lower high) to threaten the .9078/.9071 (May 14/7, 2015 lows) support zone (as shown on the 240 minute chart). Further weakness from there would expose the 61.8% retracement of the entire .8299/1.0126 rise at .8990. The .9224 level (near the 3 day falling trendline) should cap bounces. Only an upside break above there would caution bears and extend recovery towards the .9324 area near the 3-month falling trendline. Above there is needed to turn the long-term structure bullish.
Outlook:
Short term: bearish
Long term: neutral