USDCHF – Having closed lower for a third consecutive week, there is risk of further weakness in the new week. The immediate challenge is for USDCHF to overcome its support located at the 0.9225/05 levels. Further down, support stands at the 0.9150 level where a violation will expose the 0.9100 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9400 level where a breach will target the 0.9450 level and then the 0.9566 level. Above here will aim at the 0.9838 level, its psycho level. On the whole, the pair continues to look vulnerable to the downside.
