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USDCHF: Risk Of Trend Resumption Builds Up

Typography

USDCHF: With the pair seeing price follow through on the back of its Tuesday recover, more strength is likely in the days ahead. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Threatening further upside pressure. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCHF faces trend resumption threats.

Author: FXTechstrategy Website: http://www.fxtechstrategy.com/
FXTechstrategy
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report
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