UsdChf reaches the over bought zone and the 9-day Rsi rises above 70, touching the first resistances in area 0.89/0.90. The chart clearly shows us how the exchange rate finds a great barrier at this point that is limiting the downward trend started in May 2013, as the market is looking for tapering. The top of 0.8950 of April 2014 would represent the gravity centre of the double low of 0.87 in case of a surpass, as at that point it should be formalized with target 0.92.
There something suspicious about this scenario and the RSI comes to help. All times UsdChf entered into overbought as now, we have seen a primary top on the exchange as shown by the vertical bars at the time. This element makes us perplexed on the ability of a trend reversal on the part of the greenback.
There something suspicious about this scenario and the RSI comes to help. All times UsdChf entered into overbought as now, we have seen a primary top on the exchange as shown by the vertical bars at the time. This element makes us perplexed on the ability of a trend reversal on the part of the greenback.
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