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USD/CHF rises 0.13% as RSI turns bullish, eyes 0.8200
The move follows a slide from the pair’s five-week highs and a rebound after USD/CHF bounced off a two-month low of 0.7949 on August 20.
USD/CHF was up about 0.13% on Wednesday as the US dollar held within familiar ranges, with the pair moving off the 0.8120 area after earlier declines versus the Japanese yen fueled speculation about FX market intervention, FXStreet reports.
The analysis says USD/CHF is poised to trade sideways after rebounding from a two-month low of 0.7949 on August 20, but remains on a corrective leg before any broader extension lower.
Technicals highlighted by FXStreet point to a bullish turn in the Relative Strength Index (RSI), with the next upside triggers listed as clearing 0.8156, then targeting 0.8200. A breakout beyond that is described as potentially bringing 0.8207 and then 0.8250, ahead of 0.8300.
On the downside, FXStreet notes that a retreat back toward 0.8100 could signal a further lower leg, with nearby levels cited at the 50-day Simple Moving Average around 0.8091 and the July 30 swing low near 0.8039.