EUR/CHF Remains Weak And Vulnerable
FXTechstrategy Team | Aug 29, 2015 11:30PM ET
EUR/CHF: Having taken back its gains to close lower the past week, further weakness is envisaged in the new week. Support lies at the 1.0700 level, where a break will aim at the 1.0650 level and then the 1.0600 level. Its weekly RSI has turned lower, suggesting further downside pressure. Conversely, resistance resides at the 1.0800 level, where a break will aim at the 1.0850 level. A break of here will have to occur to create scope for a run at the 1.0900 level. Further out, resistance comes in at the 1.0950 level. All in all, EUR/CHF remains biased to the downside in the short term.
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