USDCHF: Risk Points Lower On Price Failure
USDCHF: The pair continues to look vulnerable after closing marginally lower the past week. If a follow through lower is seen in the new week, further weakness will follow On the downside, support comes in at the 0.9300 level. A turn below here will open the door for more weakness to occur towards the 0.9250 level and then the 0.9200 level. Further down, a cut through here will open the door for additional decline towards the 0.9150 level. Conversely, resistance resides at the 0.9450 level with a breach targeting the 0.9500 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9550 level. All in all, the pair remains biased to the downside on upside price failure.
