USDCHF: Bearish, Broader Bias Remains Lower
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USDCHF: With USDCHF continuing to weaken and threatening further downside, further decline is expected in the new week. Support comes in at the 0.8800 level. Bulls may come in here and turn it higher but if that level is broken anticipate further decline to occur towards the 0.8750 level. Further down, support lies at the 0.8700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.8950 level followed by the 0.9000 level and then the 0.9100 level. Further down, support lies at the 0.9190 level followed by the 0.9249 level. A breach of here will turn attention to the 0.9450 level where a break will turn focus to the 0.9542 level. All in all, the pair remains biased to the downside.