USD/CHF’s recovery from 3.5-week lows could be extended further. Gains will likely be short-lived, as the daily chart is signaling strong bearish sentiment. USD/CHF is currently trading at 0.9693, representing a 0.15% gain on the day, having hit a low of 0.9674 in early Asia. That level was last seen on Feb. 4. The recovery from 3.5-week lows has confirmed bullish divergence of the relative strength index on the hourly chart. The bullish divergence indicates seller exhaustion and could power further gains in the pair. Gains, however, will likely be short-lived, as Thursday’s big red marubozu candle indicates the bearish sentiment is quite strong. The 14-day RSI is also reporting bearish conditions with a below-50 print. A violation at the session low of 0.9674 would expose support at 0.9629 (Feb. 3 low). on the higher side, a close above 0.9771 (Thursday’s high) is needed to invalidate the bearish outlook on the daily chart. Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD reverses Thursday’s pullback moves as risk-off spreads in Asia FX Street 3 years USD/CHF's recovery from 3.5-week lows could be extended further. Gains will likely be short-lived, as the daily chart is signaling strong bearish sentiment. USD/CHF is currently trading at 0.9693, representing a 0.15% gain on the day, having hit a low of 0.9674 in early Asia. That level was last seen on Feb. 4. The recovery from 3.5-week lows has confirmed bullish divergence of the relative strength index on the hourly chart. The bullish divergence indicates seller exhaustion and could power further gains in the pair. Gains, however, will likely be short-lived, as Thursday's big red marubozu candle indicates the bearish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
