USDCHF Rejects Higher Prices, Vulnerable On Pullback

21 July 2016, 04:06
FXTechstrategy
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USDCHF: Having the pair closed higher on Tuesday, a move higher on recovery is now building up. However, with a large pullback seen intra day on Wednesday, a move lower could be seen in the days ahead. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9900 level where a break will clear the way for more strength to occur towards the 0.9950 level. Further out, resistance comes in at the 1.0000 level. All in all, USDCHF remains biased to the upside on more strength.

 


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