USD/CHF Tests Resistance

The US dollar inched higher after Fed Chairman Jerome Powell commented that it was time to taper. A bearish MA cross on the daily chart weighs on overall sentiment.

Nonetheless, the pair has found some buying interest in the short-term over the daily support at 0.9150. A bullish RSI divergence was the first sign that the downward pressure might have eased for now.

A break above 0.9200 would prompt sellers to cover, opening up the path to the key resistance at 0.9250. A bearish breakout would send the price to 0.9100.

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