USD/CHF still favored by the bulls

USD/CHF still favored by the bulls

USD/CHF is waiting for a fresh bullish catalyst that trigger buy orders at the current stage, as it’s hovering very close to the Fibonacci level of 50% at 0.9540, where a rebound happened on Tuesday’s session. If the pair manages to break above the 200 SMA at H1 chart, then the focus should be placed at the Fibonacci area of -23.6% at 0.9699. However, if the support level of 0.9508 gives up, then it might plummet towards the 0.9432 level.

RSI indicator remains slightly in the positive territory.

USDCHFH1.png

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