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FXTechstrategy Team
1930
FXTechstrategy Team 2014.10.11 14:59 
USDCHF: Weakens But With Caution

USDCHF: With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9680 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term despite recovery threats.

 

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