- A falling wedge breakout is seen on USD/CHF’s 4-hour chart favors retets of recent highs.
- The daily RSI is reporting overbought conditions.
USD/CHF could revisit the recent high of 1.02369 in the next day or two, as a key technical indicator is flashing a bullish signal.
The widely-followed relative strength index (RSI) is repoprting a falling wedge breakout – a bearish-to-bullish trend change – on the 4-hour chart. Put simply, the rally from the low of 0.98944 hit on March 20 has resumed.
The bulls, however, may have a hard time forcing a convincing break above 1.02369, as the 14-day RSI is reporting overbought conditions.
4-hour chart
Trend: Bullish
Pivot points
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