HomeContributorsTechnical AnalysisUSDCHF: Bullish, Remains On The Offensive On Corrective Recovery

USDCHF: Bullish, Remains On The Offensive On Corrective Recovery

USDCHF: The pair looks to build on its Monday gain with more strength 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. 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. Above here if seen will turn attention to 0.9850. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF faces further price strength.

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Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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