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USDCHF: Sells Off On Loss Of Upside Momentum

USDCHF: Having USDCHF declined strongly the past week, it could extend that weakness 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. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 0.9400 level with a breach targeting the 0.9450 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9500 level. All in all, the pair remains biased to the downside medium term

USDCHFproWeekly

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