USDCHF- Strengthens For Third Week In A Row

February 23, 2013 in Forex Analysis


USDCHF: With USDCHF maintaining a third-week of upside gains, there is risk of a recapture of the 0.9388 level, its Feb 18’2013 high. Further out, resistance comes in at the 0.9400 level followed by the 0.9456 level and then the 0.9511 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 0.9184 level where a violation will turn attention to the 0.9100 level. Further down, support comes in at the 0.9021 level and next the 0.8950 level. Price hesitation may occur here due to its psychological importance. On the whole, the pair continues to hold on to its upside offensive.

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