FX.co ★ USDCHF could start bounce to 0.9060

USDCHF is clearly in a bearish trend making lower lows and lower highs. However the RSI is showing bullish divergence signs and that is why bears need to be very cautious as a bounce towards the resistance at 0.9060 could not be ruled out at the moment.

Green line -resistance

USDCHF is now trading at 0.8917 and there are high chances of a bullish reversal from current levels. The RSI is not following price into making lower lows. A good trading opportunity for risk takers is to go long at current levels expecting a bounce towards the green line resistance around 0.9060. Recapturing 0.90 would be the first important obstacle towards our 0.906 target. Breaking above 0.9060 and the green trend line resistance could lead to an even bigger move higher, that is why this trade idea could have longer-term implications.