USD/CHF: continuation of the rebound

Currency exchange rate board of multiple currencies
Switzerland consumer prices were flat for a second month in a row in October on a monthly basis, as expected. Year on year, prices decrease slowed at -0.6%, as forecasted, after a 0.8% decline in September.

From a technical point of view, on a daily chart, USD/CHF remains well oriented after having broken the 0.9150 resistance area. Prices trade above their 50-day moving average while the RSI remains above its neutrality area at 50. As long as the 0.9020 support is not broken, readers may therefore consider further upside towards next resistances at 0.9295 and 0.9395 in extension.

Source: TradingView, GAIN Capital

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