USDCHF Breaks Resistance

USD/CHF is now trading above parity for the first time since November 2017. The pair reached the milestone after an astounding rally that started in mid February when the exchange rate was 0.91 and very rapidly it appreciated to the highest high of 1.0055 just minutes ago.

If the USD bulls continue on their quest to new highs we could see the pair make another top at the next resistance level at 1.0080.

On the other hand, bears might muster up their strength and push the pair below parity if they get enough momentum to the downside.

Both the MACD and RSI are showing massively overbought quantities of the pair which suggests that there could be a downturn in the pair soon.

Chart: USD/CHF H4