HomeContributorsTechnical AnalysisUSDCHF Recovery Threats Remain Intact

USDCHF Recovery Threats Remain Intact

USDCHF continues to eye further upside pressure closing higher on Friday and opening the door for more gain in the new week. Support comes in at the 0.8800 level. Below here, support lies at the 0.8750 level and then the 0.8700 level. Further down, support comes in at the 0.8650 level. On the upside, resistance is seen at the 0.8900 level with a turn above there opening the door for a move towards the 0.8950 level. And then the 0.9000 level. Further up, resistance comes in at the 0.9050 level. Its daily RSI bullish and pointing higher suggesting more strength. All in all, USDCHF remains biased to the upside on further recovery.

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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