USD/CHF: to consolidate above 0.9700?

USD/CHF: to consolidate above 0.9700?

USD/CHF has been moving in a consolidative phase above the 200 SMA at H1 chart and still is looking forward to test new highs. However, the resistance zone of 0.9635, at which lies the 23.6% Fibo level, is still blocking the bulls’ advance across the board. One could expect another leg lower to test the demand zone of 50% at 0.9559. If the pair manages to rebound at the current stage, we can expect an advance to reach the -23.6% Fibo level at 0.9769.

RSI indicator is moving into the neutral territory, calling for more sideways coming in the short-term.

USDCHFmH1.png

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