USDCHF: Weakens Further, Eyes Key Psycho Level

26 September 2016, 18:16
FXTechstrategy
0
25
USDCHF: The pair declined further on Monday leaving risk lower in the new week. 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 supporting this view.  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 further corrective weakness.

 


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