USDCHF: With the pair selling off to close lower the past week, further decline is likely in the new week. On the downside, support lies at the 0.9700 level. A turn below here will open the door for more weakness towards the 0.9650 level and then the 0.9600 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.9800 level where a break will clear the way for more strength to occur towards the 0.9850 level. Further out, resistance comes in at the 0.9900 level. All in all, USDCHF faces further weakness risk in the new week.
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