USDCHF: With the pair returning above the 0.9873 level the past week and following through higher to test the 0.9932 level, its 200 weekly ema during Monday trading session today, the broader risk is for USDCHF to target its major psycho level at 1.0000 level. We may see price hesitation ahead of or at this key level but if it eventually gives way, the pair should push further higher towards its Dec 2010 high at 1.0066. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, the immediate support lies at 0.9873 level where a reversal of roles is likely to occur and then turn the pair higher. However, if this fails to happen, more weakness will develop towards the 0.9675 level where a break will aim at the 0.9421 level. Below here will aim at the 0.9366 level. On the whole, the pair remains biased to the upside in the medium term.
