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USDCHF is rose by 200 pips to 0.94 after breaking the 0.92 resistance. But as the parity nearing two and a half year downtrend, momentum may weaken. RSI divergence is giving warning signs too. For the fundamental side, the Swiss National Bank’s softened language on intervening in the currency markets and lower pace of interventions may support the losing momentum of Frank depreciation. A 200 pip fall and 0.92-0.94 consolidation period can be expected if USDCHF holds below 0.94 and 0.9520 resistances.
For upward moves, USDCHF must break the 2.5-year trend line, 0.9520 to the upside. RSI divergence gives a warning sign for USDCHF
