USD/CHF intraday: the RSI is oversold

USDCHF

Trading Central 2021-01-13 04:59:05

0.8876 is our pivot point.

Our preference: the downside prevails as long as 0.8876 is resistance.

Alternative scenario: above 0.8876, look for 0.8888 and 0.8895.

Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8889 and 0.8898).

Supports and resistances:

0.8895 **

0.8888 *

0.8876 **

0.8872

0.8864 last

0.8846

0.8839 **

Disclaimer

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