USD/CHF is currently in an uptrend within a rising channel on the daily chart. The currency pair is expected to continue moving higher towards its next targets. To signal a reversal, a break below the lower channel line would be necessary.
The USD/CHF pair has been consolidating in the lower 0.9100s but is likely to break higher in line with the prevailing uptrend. A move above the April highs of 0.9152 would confirm further upside potential. The next target is around 0.9173, where significant moving averages converge on higher time-frame charts. Subsequently, the pair could target 0.9240, the level of previous major swing highs from October 2023.
The Relative Strength Index (RSI) indicates that there is still room for further upside as it is not in overbought territory. However, a decisive break below the lower boundary of the channel at approximately 0.9020 would change the outlook and raise doubts about the intermediate trend. Such a break would need to be confirmed by a significant downtrend, such as a longer-than-average red candlestick or three consecutive red candlesticks.