USD/CHF: Bull Pressure Opens Up Further Strength
USD/CHF: The pair closed higher off its low at the 0.9257 level to open the door for more strength in the new week. On the upside, resistance resides at the 0.9700 level with a breach targeting the 0.9798 level. A respite may occur here and turn the pair lower, but if taken out, expect a push further higher towards the 0.9800 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and followed by the 0.9450 level. A cut through here will clear the way for additional weakness towards the 0.9400 level. All in all, the pair remains biased to the upside.
USD/CHF Weekly Chart