USDCHF Weekly Forecast Apr 21 2014

The USDCHF halted its gains last week , bottomed at the 0.8765 levels and topped at the 0.8835 levels . Outlook in USDCHF turns neutral with risk to the downside , support comes at the 0.8765 levels , a break would open main support at the 0.8742 , Losing the 0.8742 levels will target the 0.8698 levels , further downside will aim the 0.8600 levels.

On the upside , minor resistance comes at the 0.8835 levels , a break would open main resistance t the 0.8952 levels , a halt is likely , but sustained trading – weekly closing – above the 0.8952 levels would reverse risks towards the 0.9080/0.9155 levels.

In all , as long as resistance 0.8924/0.8952 holds on a weekly basis , outlook in USDCHF will remain on the downside towards the 0.8685 levels ahead of the 0.8600 levels , break of 0.8942 will reverse risks towards the 0.9080/0.9155 levels before the next possible fall.

 
USDCHF Weekly Forecast Apr 21 2014

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