USDCHF: With USDCHF halting its two-day corrective pullbacks and turning higher in early trading today, risk of a return to the 0.9768 level could be developing. Above here will call for a run at the 0.9850 level and possibly higher towards the 0.9944 level, its 200 weekly ema. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9591 level where a reversal of roles as support is expected. However, if this fails, further downside could shape up towards the 0.9400 level and then the 0.9331 level. Another reversal of roles as support is likely to occur here. On the whole, the pair remains biased to the upside in the medium term.
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