USDCHF Looks To Pullback Further Nearer Term

USDCHF with the pair following through lower on the back of its Tuesday price rejection, more weakness is envisaged. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the downside, support is located at the 0.9900 level with a turn below here opening the door for more decline towards the 0.9850 level. And then the 0.9800 level. Further down, support comes in at the 0.9750 level. All in all, USDCHF remains biased to the downside nearer term but with caution.