USDCHF (1H) - short term bullish bias
The US dollar continues to recover against the Swiss franc on Monday. The bullish RSI divergence showed that the selling pressure was waning. The breakout above the bearish channel and then the bullish MA cross were confirmations that buyers have gained control of the price action. The greenback has since achieved a series of higher highs above 0.9650 and 0.9680, and we may expect the rally to go on towards 0.9710. Both moving averages would provide support in case of a pullback.
Key support: 0.9660
Key resistance: 0.9710
The US dollar continues to recover against the Swiss franc on Monday. The bullish RSI divergence showed that the selling pressure was waning. The breakout above the bearish channel and then the bullish MA cross were confirmations that buyers have gained control of the price action. The greenback has since achieved a series of higher highs above 0.9650 and 0.9680, and we may expect the rally to go on towards 0.9710. Both moving averages would provide support in case of a pullback.
Key support: 0.9660
Key resistance: 0.9710