USDCHF: Price Stalls, Further Bear Pressure Builds Up

FXAssure • by FXTechstrategy Team

Forex Trades • Aug 14, 2015 at 7:15 PM EDT

With USDCHF capping its strength at 0.9902 level to close lower at the end of the week, it now faces risk of further decline as we enter a new week.

USDCHF: With USDCHF capping its strength at 0.9902 level to close lower at the end of the week, it now faces risk of further decline as we enter a new week.

On the downside, support comes in at the 0.9700 level. A turn below here will open the door for more weakness to occur towards the 0.9650 level and then the 0.9600 level. A cut through here will open the door for additional weakness towards the 0.9550 level.

Resistance resides at the 0.9800 level with a breach targeting the 0.9850 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9900 level.

All in all, the pair remains biased to the downside on corrective pullback

usdchf weekly analysis

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