USDCHF: Continues To Maintain Downside Pressure

22 January 2017, 02:48
USDCHF: The pair closed lower the past week opening the door for more weakness. On the downside, support lies at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0050 level where a break will clear the way for more strength to occur towards the 1.0100 level. Further out, resistance comes in at the 1.0150 level. All in all, USDCHF remains biased to the downside on further weakness.


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