USDCHF (1H) - short term bearish bias
After its drop below 0.9900 the US dollar struggled to rise back to the parity. The latest top under 0.9980 came along with a bearish RSI divergence, an indication that the rally was running out of steam. Successive breaks of 0.9940 and 0.9910 are a confirmation that sellers have taken control of the price action. Diverging moving averages suggest that the downside pressure is mounting and we may expect another round of sell-off into 0.98s.
Key support: 0.9880
Key resistance: 0.9940
After its drop below 0.9900 the US dollar struggled to rise back to the parity. The latest top under 0.9980 came along with a bearish RSI divergence, an indication that the rally was running out of steam. Successive breaks of 0.9940 and 0.9910 are a confirmation that sellers have taken control of the price action. Diverging moving averages suggest that the downside pressure is mounting and we may expect another round of sell-off into 0.98s.
Key support: 0.9880
Key resistance: 0.9940
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.