USDCHF: Vulnerable, Eyes Further Downside
USDCHF: With the pair closing lower and continuing to hold below the 0.9741 level, further decline is envisaged in the new week. On the downside, support lies at the 0.9600 level with a break targeting the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9700 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction.