Tue, Mar 21, 2023 @ 08:52 GMT
HomeContributorsTechnical AnalysisUSD/CHF Struggles to Rebound

USD/CHF Struggles to Rebound

The Swiss franc consolidates as July’s unemployment rate holds steady. A bullish RSI divergence suggests a deceleration in the previous sell-off. Successive breaks above 0.9580 and 0.9630 prompted the short side to cover and reconsider. Sentiment may turn around if the greenback stays above the demand zone near 0.9500. A close above the double top at 0.9650 would extend the rally towards 0.9810 next to the July peak. On the downside, a bearish breakout could trigger a new round of liquidation towards 0.9350.

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