USDCHF Vulnerable, Looks To Weaken Further

USDCHF faces the risk of further bear pressure in the new week. Resistance comes in at the 0.9550 level. Above here, resistance lies at the 0.9600 level and then the 0.9650 level.

Further out, resistance stands at the 0.9650 level. On the downside, support is located at the 0.9450 level with a turn below here opening the door for more decline towards the 0.9400 level. And then the 0.9350 level.

Further down, support comes in at the 0.9300 level. Its weekly RSI is bearish and pointing lower suggesting further weakness.

All in all, USDCHF remains biased to the downside on further pullbacks.

 

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