USDCHF Triggers Bear Pressure On Price Failure

16 June 2016, 03:53
USDCHF: Having the pair rejected higher prices to weaken further on Wednesday, further downside pressure is expected in the days ahead. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. All in all, USDCHF remains biased to the downside on more weakness.


Share it with friends: