USDCHF: Bullish, Set To Strengthen Further.
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USDCHF- With a fifth week of gains seeing USDCHF closing higher at the week, further bullish offensive is likely in the new week. However, it will have to decisively break and hold above the 0.9511 level to create scope for more bullishness towards the 0.9600 level. Further out, resistance is seen at the 0.9773 level, its weekly ema. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 0.9388 level where a reversal of roles is likely to occur and turn the pair higher. However, if broken additional weakness will aim at the 0.9300 level and then the 0.9184 level where a violation will turn attention to the 0.9100 level. On the whole, the pair’s bullishness remains valid as long as it holds above the 0.9388 level, its Feb 18’2013 high