USDCHF: Loses Bullish Steam, Vulnerable

USDCHF: With USDCHF turning lower off higher level prices to close lower on Wednesday, further downside is expected.

On the downside, support lies at the 0.9000 level with a break targeting the 0.8950 level. A cut through here will target the 0.8900 level where a violation will open the door for more weakness towards the 0.8842 level.

On the upside, resistance resides at the 0.9100 level where a break will aim at the 0.9150 level. Further out, resistance resides at the 0.9200 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on pullback risks.

Leave a Reply

Your email address will not be published. Required fields are marked *