USDCHF: Possible Rebound

USDCHF, Daily

In the Daily timeframe, USDCHF formed a double bottom pattern after high volatility. The price reached the critical support area and the lower Bollinger line before rebounding. RSI also came out of the oversold zone, which may be a reversal signal.

• USDCHF may be considered for a buy on a break above the resistance at 0.8500 with a target of 0.8700;