USDCHF: Rallies Strongly, Reverses Losses

29 July 2017, 01:18

USDCHF: With the pair rallying strongly higher the past week, more weakness is likely. 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. Threatening further upside pressure. All in all, USDCHF faces further strength on price rally.

Share it with friends: