USD/CHF Reaches 5-Month High

Today’s jobless claims may stir up the volatility in the US dollar. A low number would heighten the reflation fear as the labour market may have recovered faster than expected.

The pair is hovering right under last October’s high around 0.9200. The recent drop of the RSI from the overbought area would suggest some leeway to the upside.

A bullish breakout could trigger an extended rally as shorts cover their positions. On the downside, 0.9130 is the intraday support to monitor.