USDCHF: While the pair trades and holds below its key resistance at the 0.9541 level, we expect more weakness to occur. On the downside, support comes in at the 0.9300 level. A turn below here will open the door for more weakness to occur towards the 0.9250 level and then the 0.9200 level. A cut through here will open the door for additional weakness towards the 0.9150 level. Conversely, resistance resides at the 0.9450 level with a breach targeting the 0.9500 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. All in all, the pair remains biased to the upside on further strength medium term but break above its key resistance zone.
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