USDCHF – Backs Off Higher Level Prices
USDCHF: The pair is now seen backing off higher prices following its recent run to the upside but as long as it holds and trades above the 0.9744 level, its medium term outlook remains intact. However, a recapture of the 0.9970 level is required to resume that trend towards the 1.0000 level, its 200 weekly ema. We expect the pair to face price hesitation ahead of or at this level. But if it breaks, the 1.0050 level will be targeted . On the downside, support lies at 0.7873 level. Further down, the 0.9675 level comes in as the next downside objective followed by the 0.9421 level. Below here will aim at the 0.9366 level. On the whole, the pair remains biased to the upside in the medium term though hesitating.
USDCHF: The pair is now seen backing off higher prices following its recent run to the upside but as long as it holds and trades above the 0.9744 level, its medium term outlook remains intact. However, a recapture of the 0.9970 level is required to resume that trend towards the 1.0000 level, its 200 weekly ema. We expect the pair to face price hesitation ahead of or at this level. But if it breaks, the 1.0050 level will be targeted . On the downside, support lies at 0.7873 level. Further down, the 0.9675 level comes in as the next downside objective followed by the 0.9421 level. Below here will aim at the 0.9366 level. On the whole, the pair remains biased to the upside in the medium term though hesitating.
