USDCHF Rejects Lower Prices, Sees Recovery Higher

By Mohammed Isah of FXAssure.com
Saturday, August 8, 2020 10:57 AM EDT

USDCHF faces risk of a further move higher after rejecting lower prices on Friday.

Support comes in at the 0.9100 level. Below here, support lies at the 0.9050 level followed by the 0.9000 level. Further down, support comes in at the 0.8950 level.

On the upside, resistance is seen at the 0.9150 level with a turn above here opening the door for a move higher towards the 0.9200 level. And then the 0.9250 level. Further up, resistance lies at the 0.9300 level.

daily RSI is bullish and pointing higher suggesting more strength.

All in all, USDCHF remains biased to the upside on correction.

USDCHF faces risk of further a move higher after rejecting lower prices on Friday. Support comes in at the 0.9100 level. Below here, support lies at the 0.9050 level followed by the 0.9000 level. Further down, support comes in at the 0.8950 level. On the upside, resistance is seen at the 0.9150 level with a turn above here opening the door for a move higher towards the 0.9200 level. And then the 0.9250 level. Further up, resistance lies at the 0.9300 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, USDCHF remains biased to the upside on correction.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.