The Week Ahead Dec 13 -2014 - Written by Mohammed Isah
USDCHF: Loses Upside Momentum, Declines
USDCHF: With the pair reversing its previous week gains to close lower on Friday, it now faces further downside pressure in the new week. On the downside, support lies at the 0.9600 level with a break targeting the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level. On the upside, resistance resides at the 0.9700 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards the 0.9850 level. All in all, the pair remains biased to the downside on pullback.