USDCHF Closes Flat, Vulnerable To The Downside

16 July 2016, 16:57
FXTechstrategy.com
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USDCHF: Having the pair closed flat the past week, it remains vulnerable to the downside in  the new week. On the downside, support lies at the 0.9750 level. A turn below here will open the door for more weakness towards the 0.9700 level and then the 0.9650 level. Below here will expose the 0.9600 level. On the upside, resistance resides at the 0.9850 level where a break will clear the way for more strength to occur towards the 0.9900 level. Further out, resistance comes in at the 1.0000 level and then the 1.0050 level. All in all, USDCHF remains biased to the downside after rejecting higher level prices the past week.

 

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