USDCHF: The pair may have closed marginally the past week but continues to hold on to its downside pressure medium term. On the downside, support lies at the 0.9500 level. A turn below here will open the door for more weakness towards the 0.9450 level and then the 0.9400 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9600 level where a break will clear the way for more strength to occur towards the 0.9650 level. Further out, resistance comes in at the 0.9700 level. All in all, USDCHF remains weak and vulnerable to the downside on more decline.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.