USDCHF: With Having reversed its previous week losses the risk of a move further higher is envisaged in the new week. Resistance resides at the 0.9428 level with a breach targeting the 0.9500 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9550 level.
Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 0.9250 level. A turn below here will open the door for more weakness to occur towards the 0.9200 level and then the 0.9150 level. A cut through here will open the door for additional weakness towards the 0.9100 level. All in all, the pair remains biased to the upside on further correction.
In our latest podcast, we discuss building on the US recovery, the Greek crisis and EUR, Saudi solar and next week’s events.
Follow us on Sticher.
Share
