USDCHF- Reverses Weakness Set To Extend Corrective Strength.
USDCHF: With the pair reversing its previous week loses to close higher above its trendline support, further upside offensive could follow in the new week. This development leaves USDCHF targeting the 0.9456 level followed by the 0.9511 level and then the 0.9600 level. Its weekly RSI is bullish and pointing higher supporting this view. The alternative scenario will be for a failure of its current recovery to occur. This if seen could turn attention to the 0.9304 level and ultimately the 0.9082 level with a violation of here turning focus to the 0.9200 level. Further down, support resides at the 0.9100 and then the 0.9000 level. Price hesitation may occur here due to its psychological importance. On the whole, the pair has triggered a strong corrective recovery suggesting further upside.
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