USD/CHF – With USD/CHF gaining strength for a second week in a row, further upside is likely in the days ahead. While maintaining above the 0.9177 level, further upside is envisaged towards the 0.9278 level where a violation will set the stage for a run at the 0.9454 level.
A cut through here will pave the way for a push towards the 0.9496 level with a breach of here clearing the way for a run at the 0.9750 level. Its weekly RSI is bullish and pointing higher supporting this view.Conversely, a failure to follow through higher on its past week recovery will mean a return to the 0.9177 level where a reversal of roles is likely.
Further down, support comes in at the 0.8889 level where a violation will aim at the 0.8800 level. A turn below here will shift attention to the 0.8750 level. On the whole, the pair remains biased to the upside in the short term on correction.
Guest post by FX Tech Strategy
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