USDCHF: Weakens, Eyes The 0.9758 Level

2 September 2016, 14:32
USDCHF: With the pair losing upside pressure to close lower on Thursday, further bearishness is likely in the days ahead. 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. Its daily RSI is bearish and pointing  lower supporting this view. 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  0.9950 level. All in all, USDCHF remains biased to  the downside on further correction.
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