USDCHF: The pair closed lower after losing upside momentum the past week. This development leaves the pair targeting further weakness in the new week. 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. Further down, support resides at the 0.9700 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0000 level where a break will clear the way for more strength to occur towards the 1.0050 level. Further out, resistance comes in at the 1.0100 level. All in all, USDCHF remains weak and vulnerable to the downside.
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