USDCHF - Out of steam?
USDCHF (1H) - short term bearish bias
The US dollar is having a hard time pushing up to the mid-October high right underneath 1.0000, market participants might not yet be ready for the psychological parity level. The upward rectangle consolidation has seen some longs taking their money off the table, and the current indecision has probably dented the bullish mood. The RSI divergence - higher highs in price vs. lower highs in indicator is a stark evidence that the buying momentum has lost its lustre.
Key support: 0.9950
Key resistance: 1
The US dollar is having a hard time pushing up to the mid-October high right underneath 1.0000, market participants might not yet be ready for the psychological parity level. The upward rectangle consolidation has seen some longs taking their money off the table, and the current indecision has probably dented the bullish mood. The RSI divergence - higher highs in price vs. lower highs in indicator is a stark evidence that the buying momentum has lost its lustre.
Key support: 0.9950
Key resistance: 1
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