USDCHF: The pair continues to look vulnerable after closing marginally lower the past week. If a follow through lower is seen in the new week, further weakness will follow On the downside, support comes in at the 0.9300 level. A turn below here will open the door for more weakness to occur towards the 0.9250 level and then the 0.9200 level.
Further down, a cut through here will open the door for additional decline towards the 0.9150 level. Conversely, resistance resides at the 0.9450 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. All in all, the pair remains biased to the downside on upside price failure.
In this week’s podcast, we explain why EUR rallied on Draghi, what’s next, discuss oil and gas, run through the Plus500 story and preview next week’s events.
Share
