Fri, Jun 24, 2022 @ 22:51 GMT
HomeContributorsTechnical AnalysisUSD/CHF Grinds Rising Trend Line

USD/CHF Grinds Rising Trend Line

The US dollar continues upward over the interest rate differential. The pair’s steep climb over the past month pushed the RSI into an extremely overbought condition on the daily chart. A pullback may be due to let the bulls catch their breath, but a confirmation is yet to materialise. Sentiment would stay intact if the price action maintains its course above the rising trend line. November 2019’s high at 1.0020 is the next target. The resistance-turned-support at 0.9820 sits next to the trendline, making it an area of interest.

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