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USDCHF: Sells Off, Extends Further Weakness

USDCHF: With the pair resuming its medium term weakness on a sell off the past week, more decline is envisaged. On the downside, support lies at the 0.9400 level. A turn below here will open the door for more weakness towards the 0.9350 level and then the 0.9300 level. Its weekly RSI is bearish and pointing lowering suggesting further weakness. On the upside, resistance resides at the 0.9500 level where a break will clear the way for more strength to occur towards the 0.9550 level. Further out, resistance comes in at the 0.9600 level. All in all, USDCHF faces further weakness threats on sell off.

USDCHF: Sells Off, Extends Further Weakness

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