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USDCHF: Risk Continues To Build On The Downside

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USDCHF: Risk Continues To Build On The Downside

Postby FXTechstrategy » Sat Feb 04, 2017 12:22 pm

USDCHF: The pair weakened further the past week leaving risk of more decline on the cards. On the downside, support lies at the 0.9900 level. A turn below here will open the door for more weakness towards the 0.9850 level and then the 0.9800 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.0000 level where a break will clear the way for more strength to occur towards the 1.0050 level. Further out, resistance comes in at the 1.0100 level. All in all, USDCHF remains biased to the downside on further weakness.

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