USDCHF Rallied On Bullish Offensive With Eyes On 1.0100
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USDCHF: Having USDCHF rallied on bullish offensive the past week to reverse its previous week losses, it eyes further strength in the new week. On the downside, support lies at the 0.9950 level. A turn below here will open the door for more weakness towards the 1.9900 level and then the 0.9850 level. Further down, support resides at the 0.9800 level. On the upside, resistance resides at the 1.0050 level where a break will clear the way for more strength to occur towards the 1.0100 level. Further out, resistance comes in at the 1.0150 level. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF continues to hold on to its short term recovery bias with eyes on the 1.0100.