USD/CHF Remains Offensive On Bull Pressure

Mohammed Isah FXTechstrategy

USDCHF remains on offensive on bull pressure with eyes on key resistance at 1.0007 level. Resistance resides at the 1.0050 level. A break will clear the way for more gain towards the 1.0100 level. Above here, resistance comes in at the 1.0150 level and then the 1.0200 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support is seen at the 0.9950 level. A turn below there will set the stage for more decline towards the 0.9900 level. And then the 0.9800 level. All in all, USDCHF faces further price recovery threats.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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