USD/CHF Rebound Pulls RSI Out of Oversold Territory
USD/CHF extends the rebound from the monthly low (0.8667) to pull the Relative Strength Index (RSI) out of oversold territory.
USD/CHF Rate Outlook
USD/CHF snaps the series of lower highs and lows from last week, with a break/close above the 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension) region raising the scope for a move towards the 0.9000 (50% Fibonacci retracement) to 0.9030 (38.2% Fibonacci extension) area as the RSI climbs back above 30.
Next level of interest comes in around the 0.9100 (61.8% Fibonacci retracement) handle, but failure to break/close above the 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension) region may curb the recent rebound in USD/CHF.
A breach of the monthly low (0.8667) brings 0.8590 (78.6% Fibonacci extension) back on the radar, with the next area of interest coming in around the July low (0.8553).
USD/CHF Rate Outlook
USD/CHF snaps the series of lower highs and lows from last week, with a break/close above the 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension) region raising the scope for a move towards the 0.9000 (50% Fibonacci retracement) to 0.9030 (38.2% Fibonacci extension) area as the RSI climbs back above 30.
Next level of interest comes in around the 0.9100 (61.8% Fibonacci retracement) handle, but failure to break/close above the 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension) region may curb the recent rebound in USD/CHF.
A breach of the monthly low (0.8667) brings 0.8590 (78.6% Fibonacci extension) back on the radar, with the next area of interest coming in around the July low (0.8553).
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.