USDCHF Closes Higher, Sets Up To Extend Recovery

25 June 2016, 13:49
FXTechstrategy
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USDCHF: With USDCHF closing higher on price halt the past week, further bullish offensive 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 weekly RSI is bullish and pointing higher suggesting further recovery. 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 upside on more recovery.

 

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