USDCHF faces risk of more weakness as it sold off the past week. Resistance resides at the 0.9750 level. Above here, resistance lies at the 0.9800 level and then the 0.9850 level. Further out, resistance comes in at the 0.9900 level. On the downside, support is seen at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support resides at the 0.9550 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further weakness.
