HomeContributorsTechnical AnalysisUSDCHF Weakens On Price Sell Off With Eyes On 1.0100

USDCHF Weakens On Price Sell Off With Eyes On 1.0100

USDCHF weakens on price sell off with eyes on 1.0100 support level. On the downside, support is seen at the 1.0100 level. A turn below here will set the stage for more decline towards the 1.0050 level. And then the 1.0000 level. Further down, support resides at the 0.9950 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0200 level. Above here, resistance lies at the 1.0250 level and then the 1.0300 level. Further out, resistance comes in at the 1.0350 level. All in all, USDCHF continues to eye further downside pressure towards the 1.0100 support level

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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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