EUR/CHF intraday: the RSI is overbought
Our pivot point stands at 0.9490.
Our preference: the upside prevails as long as 0.9490 is support.
Alternative scenario: the downside breakout of 0.9490 would call for 0.9470 and 0.9458.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9477 and 0.9465).
Supports and resistances:
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