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USDCHF Faces Downside Pressure On Price Decline

USDCHF: Having reversed almost all of its Thursday losses to close on a rejection candle, USDCHF now faces downside pressure in the days ahead. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. All in all, USDCHF remains biased to the downside on further weakness.

USDCHF: Faces Downside Pressure On Price Decline

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