USDCHF: On The Upbeat, Pressure Builds Up On The 0.9823 Level
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USDCHF: The pair remains on the offensive and looks to recapture its key resistance located at the 0.9823 level. On the upside, resistance lies at the 0.9900 level with a breach targeting the 0.9950 level. A breather may occur here and turn the pair lower. But if taken out, expect a push further higher towards the 1.0000 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 0.9700 level. A turn below here will open the door for more weakness to occur towards the 0.9650 level and then the 0.9600 level. A cut through here will open the door for additional decline towards the 0.9550 level. All in all, the pair remains biased to the upside in the short term.