USDCHF – With USDCHF’s two-day recovery higher fading for it to close lower the past week, there is risk of further weakness in the new week. Support comes in at the 0.9200 level with a breach of here turning focus to the 0.9146 level. Further down, support comes in at the 0.9050 level and then the 0.9000 level. On the other hand, the alternative scenarios will be for the pair to retake the 0.9454 level. Further out, resistance resides at the 0.9496 level and then the 0.9750 level with a turn above here shifting attention to the 0.9838 level, its Jun 2013 high. A cut through here will resume its broader medium term bias. On the whole, the pair remains biased to the downside on price failure.
