USD/CHF close to make a pullback

USD/CHF close to make a pullback

USD/CHF continues to trade in a recovery phase across the board and it seems we could expect a consolidation above the 200 SMA at H1 chart. Currently, the pair is hovering around the 65% Fibonacci area, which is capping further gains in the short-term. That supports the idea of a pullback to break below the 0.9168 level in order to reach the -23.6% Fibonacci target at 0.9120.

RSI indicator is at overbought territory, supporting our bearish idea.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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