USD/CHF: Risk Continues To Point Higher On Correction
FXTechstrategy Team | Aug 25, 2016 10:13AM ET
USD/CHF: With the pair recovering strongly on Wednesday and retaining that bias, further bullishness is envisaged. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. All in all, USD/CHF remains biased to the upside on further correction.
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