Special Focus - (Written by Mohammed Isah)
USDCHF: Strengthens, Extends Corrective Recovery.
USDCHF – With USDCHF gaining strength for a second week in a row, further upside is likely in the days ahead. While maintaining above the 0.9177 level, further upside is envisaged towards the 0.9278 level where a violation will set the stage for a run at the 0.9454 level. A cut through here will pave the way for a push towards the 0.9496 level with a breach of here clearing the way for a run at the 0.9750 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, a failure to follow through higher on its past week recovery will mean a return to the 0.9177 level where a reversal of roles is likely. Further down, support comes in at the 0.8889 level where a violation will aim at the 0.8800 level. A turn below here will shift attention to the 0.8750 level. On the whole, the pair remains biased to the upside in the short term on correction.