USDCHF: Retains Recovery Risk
USDCHF: With the pair taking back almost all of its past week losses to close marginally higher, it faces the risk of a move higher in the new week. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. A cut through here will open the door for additional weakness towards the 0.9400 level. Resistance resides at the 0.9650 level with a breach targeting the 0.9700 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9761 level. All in all, the pair remains biased to the upside on further strength.