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USDCHF: Remains Vulnerable To The Downside But With Caution

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USDCHF: Remains Vulnerable To The Downside But With Caution

Postby FXTechstrategy » Sun Jan 15, 2017 12:57 am

USDCHF: The pair closed further lower the past week though we could see a recovery higher in the new week. On the downside, support lies at the 1.0050 level. A turn below here will open the door for more weakness towards the 1.0000 level and then the 0.9950 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0150 level where a break will clear the way for more strength to occur towards the 1.0200 level. Further out, resistance comes in at the 1.0250 level. All in all, USDCHF remains biased to the downside on further weakness.

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