USDCHF: USDCHF closed higher returning above the 0.9843 level the past week. This development has opened the door for more strength in the new week. This if seen will target its overhead resistance located at the 0.9902/56 region. A cut through that zone will clear the way for more bull pressure to build up towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 0.9843 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. Further down, support resides at the 0.9800 level followed by the 0.9750 level. All in all, the pair remains biased to the upside in the medium term.
USDCHF Trades Above Key Support With Eyes On The 0.9902/56 Zone
October 31, 2015
