USDCHF faces risk of further move higher as it extended its upside pressure with eyes on 0.9766 area. Resistance lies at the 0.9800 level with a turn above here targeting the 0.9850 level and then the 0.9850 level. Further out, resistance stands at the 0.9900 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support is located at the 0.9700 level with a break below here opening the door for more decline towards the 0.9650 level. Further down, support resides at the 0.9550 level followed by the 0.9500 level. A cut through here will open the door for more weakness towards the 0.9450 level. All in all, USDCHF remains biased to the upside on price weakness.
USDCHF Looks To Extend Upside Pressure, Eyes The 0.9766 Area
by Mohammed Isah | February 5th, 2020
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