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Forex

USD/CHF Rebounds Amid US Treasury Intervention Rumors

Guavy AI Editorial Team
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USD JPY CHF
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The USD/CHF currency pair rebounded from its weekly lows and is currently trading around 0.8080, after hitting a daily high of 0.8127.

This move comes as the US Treasury Department has reportedly told market participants to prepare for additional intervention in the currency markets, following Thursday's action by Japanese authorities to boost the Yen.

The Relative Strength Index (RSI) is turning bullish, hinting at a recovery despite the bearish territory.

For the uptrend to continue, the price must remain above the 50-day SMA and the July 10 cycle low of 0.8010.

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