USDCHF: With a flat close the previous week followed by a higher close at the week, USDCHF has triggered a correction. Though still holding on to its broader short term bias, the immediate risk is for it to build on its corrective recovery. If this occurs expect the pair to strengthen further towards the 0.9456 level followed by the 0.9511 level and then the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting its present corrective bias. On the downside, the risk is for the pair to take back its present gains and return to the 0.9213 level. This if seen will call for a run at the 0.9150 level followed by the 0.9041 level. On the whole, the pair remains biased to the downside short term but faces a correction.
