USDCHF- Strengthens, Targets Trendline Resistance.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
USDCHF: With USDCHF maintaining its upside tone, there is risk of further price extension. In such a case, the 9293 level, its trendline resistance could come in as the next upside objective. A cap is likely to occur here and turn it lower but if taken out, the 0.9382 level will be targeted. Further out, resistance comes in at the 0.9400 level followed by the 0.9456 level and then the 0.9511 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, as long as it holds below its declining trendline resistance, the risk of a return to the 0.9200 level and then the 0.9149 level cannot be ruled out. Further down, support comes in at the 0.9082 level followed by the 0.9021 level and next the 0.8950 level. Price hesitation may occur here due to its psychological importance. On the whole, corrective recovery may be in place but USDCHF continues to hold to its broader downside bias.