USDCHF- Sees Further Bullishness, Risk Builds On The 0.9511 Level.
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USDCHF: With USDCHF returning above its broken trendline and taking out the 0.9388 level, its Feb 18’2013 high, it looks to extend its broader upside in the new week. Further out, resistance comes in at the 0.9511 level where a violation will set the stage for a move higher towards the 0.9600 level. Further out, resistance is seen at the 0.9773 level, its weekly ema. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 0.9388 level where a reversal of roles is likely to occur and turn the pair higher. However, if broken additional weakness will aim at the 0.9300 level and then the 0.9184 level where a violation will turn attention to the 0.9100 level. On the whole, the pair continues to hold on to its upside offensive.