USDCHF Faces Bear Pressure On Correction

[AlpariMox1]

USDCHF faces corrective pullback pressure following its Wednesday sharp sell. This leaves the pair targeting its big support located at the 1.0127 level. On the downside, support lies at the 1.0150 level. A turn below here will open the door for more weakness towards the 1.0100 level and then the 1.0050 level. Further down, support resides at the 1.0000 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0250 level where a break will clear the way for more strength to occur towards the 1.0300 level. Further out, resistance comes in at the 1.0350 level. All in all, having remained weak and vulnerable, USDCHF faces corrective pullback pressure.