USDCHF: Looks To Extend Gains On Higher Weekly Close

28 May 2016, 03:02
FXTechstrategy
0
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USDCHF: Having the pair extended its bullish offensive to close higher at the end of the week, more strength is envisaged. On the downside, support lies at the 0.9900 level. A turn below here will open the door for more weakness towards the 0.9850 level and then the 0.9800 level. Its weekly RSI is bullish and pointing higher suggesting further strength. 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 and then the 1.0150 level.  All in all, USDCHF remains biased to the upside on price strength.

 


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