USD/CHF daily’s RSI has diverged, which implies a near-term consolidation in the opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
Key quotes
“USD/CHF has again failed at 0.9900 and this coupled with a divergence of the daily RSI, points to a near term consolidation/a correction lower.”
“Dips lower should remain contained by 0.9675/0.9613 (January low) for an upside bias to remain entrenched.”
“Above 0.9900/20 is that the market is capable of further gains to 1.0023/28, the October and November highs.”
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