USD/CHF Struggles Under $0.9250 – Is It a Good Sell Now?
USD/CHF is recouping Monday’s losses and rebounding from daily lows, as selling failed to establish traction below 0.9200, reaching a daily low of 0.9194 before succumbing to buying. As a result, the USD/CHF is generating a bullish harami candlestick pattern that has to be confirmed. As a result, the USD/CHF is trading at 0.9234, up 0.25%.
The USD/CHF is returning after failing to extend its losses below 0.9167. The formation of a bullish harami might pave the way for more gains, but it must be verified until the USD/CHF reclaims 0.9292. If that scenario plays out, the USD/CHF will face the 20-day Exponential Moving Average (EMA), which measures bullish/bearish price activity in the pair at 0.9299, followed by the previous week’s high of 0.9409.
Nevertheless, the Relative Strength Index (RSI) stays in the bearish territory while aiming higher, keeping buyers optimistic about higher prices. In an alternate scenario, the USD/CHF major support levels would be 0.9200, backed by the January 9 daily low of 0.9167, before reaching 0.9100.