The Swiss franc surges as the US-Russia stalemate boosts demand for safe-haven assets. Consecutive drops below 0.9220 and then 0.9180 suggest that sellers have taken control.
The greenback is heading towards January’s double bottom around 0.9110. A break below this key floor would trigger a deeper correction towards the psychological level of 0.9000.
The RSI’s oversold situation may cause a temporary rebound. The support-turned-resistance at 0.9220 is the level to break to give the bulls any hope of recovery.
