USDCHF: Maintains Recovery Tone

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With the pair remaining on the offensive for a second week in row, there is risk of further upside towards the 0.9454 level.

Further out, resistance resides at the 0.9496 level and then the 0.9750 level with a turn above here shifting attention to the 0.9838 level, its Jun 2013 high.

A cut through here will resume its broader medium term bias. Unless we see a failed follow through higher on the back of its past week gains, risk remains higher on correction.USDCHF

Conversely, support lies at the 0.9310 level with a turn below here aiming at the 0.9146 level.

Further down, support comes in at the 0.9050 level and then the 0.9000 level. On the whole, the pair remains biased to the upside on corrective recovery following a second week of strength.

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