USDCHF Sets Up To Recover Further Higher

4 Oca 2020

USDCHF faces risk of further recovery higher after backing off lower prices on Thursday and Friday. Resistance comes in at the 0.9750 level. Above here, resistance lies at the 0.9800 level and then the 0.9850 level. Further out, resistance stands at the 0.9900 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support comes in at the 0.9550 level. All in all, USDCHF remains biased to the upside on price recovery.