The USDCHF closed on an important weekly trend line.

The USDCHF Swissy slipped once again to the long term weekly trend line at the .9250 level. The daily RSI just went oversold, but the risk of a bounce near these levels may be high as the Swiss National Bank always seems to be “in the market” near these big levels of support. This is also the 88.6% Fibonacci support from the March lows to highs from this year.