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).
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