FX.co ★ Bullish USDCHF at 0.89 for a move towards 0.90-0.9050

USDCHF is trading at 0.89. The RSI has not followed price into making new lows. I expect at least a short-term bounce in USDCHF towards 0.90-0.9050 area. That is why I prefer at current levels to go against the trend and turn bullish.

Blue lines -bullish divergence

USDCHF is expected to bounce from current levels. I prefer to turn bullish with 0.8850 as stop for a move towards 0.90-0.9050. 0.8950 is the first obstacle that bulls need to overcome. Breaking above 0.8950 will increase chances for our bullish view for a move towards the green trend line resistance. Longer-term trend remains bearish as long as price is below 0.9050. This is a high risk trade idea as we go against the trend.