USDCHF: Pulls Back, Loses Upside Momentum.
USDCHF: Price weakness saw USDCHF declining the past week with risk of more weakness on the cards. Resistance resides at the 0.9500 level with a breach targeting the 0.9550 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. Conversely, on the downside, support comes in at the 0.9400 level. A turn below here will open the door for more weakness to occur towards the 0.9350 level and then the 0.9300 level. A cut through here will open the door for additional weakness towards the 0.9250 level. All in all, the pair remains biased to the downside on correction.