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USDCHF: Vulnerable, Retains Its Bearishness


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USDCHF: The pair looks to move further lower as it continues to hold on to its downside pressure. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Above here if seen will turn attention to 0.9850. All in all, USDCHF faces further price weakness.

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About the author


Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.

He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal MagazineThestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com

At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index.

Mohammed can be reached via email at m.isah@fxtechstrategy.com.

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