USD/CHF Sells Off With Eyes On 0.9612 Zone

USD/CHF faces risk of further move lower following its price sell-off the past week. Resistance comes in at the 0.9650 level. Above here, resistance lies at the 0.9700 level and then the 0.9750 level. Further out, resistance stands at the 0.9800 level.

On the downside, support is located at the 0.9600 level with a turn below here opening the door for a furhter decline towards the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level.

Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on price weakness.

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