USD/CHF is striking higher again after a brief pullback from overbought levels. It is surging on Friday as it thrusts up towards the next key targets at 0.9000 – a whole-number psychological level – and 0.9050, the July 30 swing high.
USD/CHF Daily Chart USD/CHF is in an established short-term uptrend which means the odds favor more upside. This is due to the theory in technical that “the trend is your friend” which advocates trading in the direction of the dominant trend. The Relative Strength Index (RSI) has almost reached above 70 again, suggesting price is close to levels where it would be considered overbought. If the RSI closes above 70 traders are advised not to add to their long positions for risk of the price pulling back. More By This Author:EUR/JPY Price Prediction: November Bear Trend Unfolds EUR/CHF Price Prediction: Falling Lower After Break Out From Triangle Pattern GBP/CAD Price Prediction: Pierces Below Confirmation Level For Rising Wedge
USD/CHF Price Forecast: Resumes Uptrend After Pullback
