USDCHF Looks For More Strength On Recovery

USDCHF: Having halted its weakness to close higher the past week, USDCHF looks for more strength on recovery.

This is coming on the back of its price halt at 0.9786 level on Dec 14 2015. A buildup on that strength should call for a run at 0.9990 level where a break will set the stage for more gain towards the 1.0050 level.

Further, resistance resides at the 1.0100 level and subsequently the 1.0150 level. Its weekly RSI has turned higher supporting this view. On the downside, support lies at the 0.9850 level with a turn below here opening the door for more weakness towards the 1.9800 level and then the 0.9750 level. Further down, support resides at the 0.9700 level.

All in all, having halted its weakness to close higher the past week, USDCHF looks for more strength on recovery in the new week.