USD/CHF Looks To Pullback Further Nearer Term

Forex Trades • Oct 30, 2019 at 12:14 PM EDT

USD/CHF with the pair following through lower on the back of its Tuesday price rejection, more weakness is envisaged. Resistance comes in at the 0.9950 level.

USD/CHF with the pair following through lower on the back of its Tuesday price rejection, more weakness is envisaged. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its daily RSI is bearish and pointing lower suggesting further weakness.

On the downside, support is located at the 0.9900 level with a turn below here opening the door for more decline towards the 0.9850 level. And then the 0.9800 level. Further down, support comes in at the 0.9750 level. All in all, USD/CHF remains biased to the downside nearer term but with caution.

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