USDCHF - Looks To Extend Weakness.
By Mohammed Isah | February 1, 2013 2:04 AM EST
USDCHF: Having sold off below its broken tremdline, the risk is for USDCHF to recapture the 0.9082 level. Further down, support comes in at the 0.9041 level followed by the 0.9000 level. Price hesitation may occur here due to its psychological importance. If broken, further declines will occur towards the 0.8900 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to break and hold above the 0.9388 level to reverse its entire weakness. This if seen will aim at the 0.9400 level followed by the 0.9456 level. Further out, resistance resides at the 0.9511 level and then the 0.9600 level. On the whole, the pair is facing bear threats.