USDCHF: With the pair continuing to hold on to its bullish tone, the risk is for a recapture of its May 2012 high at 0.9768 level to occur. A decisive break and hold above here will resume its medium term uptrend initiated from the 0.7068 level. Further out, on continue strength USDCHF will aim at the 0.9850 level and possibly extending towards the 0.9932 level, its 200 weekly ema. Its daily RSI has turned higher supporting this view. The alternative scenario will be for the pair to halt its present upside offensive and return to the 0.9441 level where a breach will aim at the 0.9366 level. Further down, support lies at the 0.9331 level. On the whole, the pair remains biased to the upside in the medium term.
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