As the world’s leading investment manager and financial market journalist, I am here to provide you with the latest insights on the USD/CHF currency pair. After bottoming out on August 29, USD/CHF has shown signs of a new uptrend, supported by a bullish Three White Soldiers Japanese candlestick pattern.
However, caution is advised as the Relative Strength Index (RSI) has just exited overbought territory, signaling a possible pullback in the near future. The formation of a bearish Hanging Man candlestick pattern further supports this view.
USD/CHF 4-hour Chart
In the short term, USD/CHF may pull back to support levels at 0.8503 or 0.8485 before resuming its uptrend. A break above 0.8541 could lead to further gains, with resistance levels at 0.8557 and 0.8617.
Overall, while a temporary correction may be on the horizon, the dominant trend remains bullish for USD/CHF. Stay tuned for more updates on this dynamic currency pair.