Daily Technical Strategy On Currencies & Commodities
Topic: Daily Technical Strategy On Currencies & Commodities
USDCHF: The pair looks to weaken further in the new week on corrective pullback threats. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0200. All in all, USDCHF faces further corrective downside pressure
Re: Daily Technical Strategy On Currencies & Commodities
Thanks for sharing, but always when we refer to such a pair it is wise to look to the opposite pair EURUSD since their correlation is strong must of the time. So no matter your decision is on this USDCHF pair, always go in the opposite direction with EURUSD
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