USDCHF Backs Off Lower Prices On Price Correction

November 24, 2018


USDCHF faces backs off lower prices on price correction. This development leaves risk of more gain on the cards in the coming. On the downside, support lies at the 0.9950 level. A turn below there will set the stage for more decline towards the 0.9900 level. And then the 0.9850 level. On the upside, resistance resides at the 1.0000 level where a break will clear the way for more gain towards the 1.0050 level. Above here, resistance comes in at the 1.0100 level and then the 1.0150 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF faces further price correction but with caution.

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