USDCHF broken above key resistance. Could it move to 0.92?
Third time is a charm. USDCHF broken above key resistance after two previous tries following the SNB's rate decision. 0.90-0.91 in the horizon, maybe even 0.92 level
USDCHF After being rejected yesterday at the resistance and 0.618 retracement at 0.89 USDCHF is propelling higher today following SNB rate decision.
UDCHF is now seemingly headed towards the next significant resistance and 0.786 retracement at around 0.9050, with a potential spike to the 0.91 level also in sight.
Should USDCHF close above 0.9050, it could signal further uptrend towards the 0.92 to 0.9245 range, with 0.9245 marking the peak of October 2022.
The daily RSI's positive sentiment with no divergence, supports the likelihood of higher USDCHF levels.
On the weekly chart, the RSI is nearing the 60 mark, and a close above this level would confirm the bullish picture.
Conversely, if USD/CHF retreats below 0.89, it would undermine the current bullish perspective
USDCHF After being rejected yesterday at the resistance and 0.618 retracement at 0.89 USDCHF is propelling higher today following SNB rate decision.
UDCHF is now seemingly headed towards the next significant resistance and 0.786 retracement at around 0.9050, with a potential spike to the 0.91 level also in sight.
Should USDCHF close above 0.9050, it could signal further uptrend towards the 0.92 to 0.9245 range, with 0.9245 marking the peak of October 2022.
The daily RSI's positive sentiment with no divergence, supports the likelihood of higher USDCHF levels.
On the weekly chart, the RSI is nearing the 60 mark, and a close above this level would confirm the bullish picture.
Conversely, if USD/CHF retreats below 0.89, it would undermine the current bullish perspective