USDCHF Eyes Further Recovery Pressure

3 October 2016, 13:34

USDCHF: The pair now faces upside pressure having halted its weakness the past week. 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. On the upside, resistance resides at the 0.9750 level where a break will clear  the way for more strength to occur towards the  0.9800 level. Further out, resistance comes in at the  0.9850 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF remains biased to  the upside on further correction.


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