USDCHF Builds Up On Downside Pressure

5 November 2016, 02:58
FXTechstrategy
0
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USDCHF: The pair extended its weakness the past week following its recent bear pressure. 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. 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. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to  the downside on correction.

  

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