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USDCHF: Vulnerable On Bear Threats

USDCHF: Having the pair continued to hold on to its downside pressure on price failure, further bearishness is expected. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9750 level where a break will clear the way for more strength to occur towards the 0.9800 level. Further out, resistance comes in at the 0.9850 level. All in all, USDCHF remains biased to the downside on price failure.

USDCHF: Vulnerable On Bear Threats

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