USD/CHF Bulls Eye 0.8200 as RSI Turns Higher

The USD/CHF currency pair rose by 0.13% on Wednesday as the US dollar held steady against the Swiss franc, despite depreciating versus the Japanese yen due to speculation of an intervention in the FX markets.

This move dragged the pair from its five-week high at around 0.8120 down to the current exchange rate levels.

From a technical perspective, the USD/CHF is poised to trade sideways after bouncing off a two-month low of 0.7949 on August 20. The market structure suggests that the pair is on a corrective leg before extending its downtrend.

The Relative Strength Index (RSI) has turned bullish, indicating further upside potential for the USD/CHF pair.