USDCHF: Upside Pressure Remains Valid On Bull Threats

13 May 2017, 03:20
FXTechstrategy
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USDCHF: With the pair retaining its upside pressure by closing higher the past week, more strength is likely. On the downside, support lies at the 0.9950 level. A turn below here will open the door for more weakness towards the 0.9900 level and then the 0.9850 level. 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. Its weekly RSI is bullish and pointing higher suggesting further upside. All in all, USDCHF faces further recovery risk in the new week.


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