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USDCHF: Closes Higher On Price Extension

USDCHF: With USDCHF extending its bullishness the past week, it now faces further upside pressure. However, with its daily hart spotting rejection candles, correction weakness could be seen in the new week. Resistance resides at the 0.9900 level with a breach targeting the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0000 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 0.9750 level. A turn below here will open the door for more weakness to occur towards the 0.9700 level and then the 0.9650 level. A cut through here will open the door for additional weakness towards the 0.9600 level. All in all, the pair remains biased to the upside medium term.

USDCHFWeekly

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