USDCHF: With USDCHF failing to follow through higher on the back of its last week gains, further weakness is expected in the days ahead. This is coming on the heels of a second day of weakness during Tuesday trading session. The risk is for the pair to recapture its key support located at the 92.38 level. A violation will aim at the 0.9193 level, its May 07’2012 low followed by the 0.9100 level. On the upside, it will have to return above the 94.24 level to annul its current weakness and resume its bullish offensive towards its Sept 10'2012 high at 0.9482. A breach will open up further upside gain towards the 0.9606 level. On the whole, the pair remains biased to the downside in the short term.