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USDCHF: Looks To Build On Recovery

USDCHF: With its two-day recovery on Thursday and Friday seeing the pair printing a rejection candle, we should see a further move higher in the new week. On the downside, support comes in at the 0.9250 level. A turn below here will open the door for more weakness to occur towards the 0.9200 level and then the 0.9150 level. A cut through here will open the door for additional weakness towards the 0.9100 level. Conversely, resistance resides at the 0.9350 level with a breach targeting the 0.9400 level. A breather may occur here and turn the pair lower but if that level is taken out, expect a push higher towards the 0.9450 level. All in all, the pair remains biased to the downside medium term but could a recovery in the new week.

USDCHFproWeekly

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