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USDCHF: Closes Lower On Bearishness

USDCHF: With USDCHF closing lower the past week, the pair continues to face downside pressure into the new week. On the downside, support comes in at the 0.9070 level. A turn below here will open the door for more weakness to occur towards the 0.9000 level and then the 0.8950 level. A cut through here will open the door for additional weakness towards the 0.8900 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 0.9200 level with a breach targeting the 0.9250 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9300 level. All in all, the pair retains its bearishness and remains biased to the downside in the medium term

USDCHFproWeekly

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