Mon, May 16, 2022 @ 19:30 GMT
HomeContributorsTechnical AnalysisUSD/CHF Tests Daily Support

USD/CHF Tests Daily Support

The US dollar plunged after December’s CPI slowed down to 0.5% from 0.8% in November.

Despite a swift recovery from the daily support at 0.9100, price action came under pressure once again at December’s supply area (0.9280). The dive below 0.9180 then 0.9140 is a sign of liquidation as buyers rush to the exit.

As the greenback revisits the critical support at 0.9100, an oversold RSI may attract some buying interest. The former demand area around 0.9200 is now the first resistance level.

Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading