USDCHF is surging since the breaking of the downtrend which we talked about in our earlier post. Now the price is testing 0.92 resistance and RSI is at overbought territory. The last two times daily 14-period RSI was near or above overbought territory, USDCHF reversed to the downside. If another reverse about to happen, 0.92 resistance is a good place for that. But the positive momentum shouldn’t be overlooked. Breaking of 0.92 may cause USDCHF to surge by another 200 pips to 0.94.
