USD/CHF Nears Seven-Month Highs, RSI Approaches Overbought Territory

The USD/CHF pair extended its gains on Friday, climbing to levels not seen in nearly seven months. The move comes despite a slight easing in the US Dollar, which had earlier hit more than one-year highs.

Technical indicators suggest the rally may be losing steam. The Relative Strength Index (RSI) is approaching overbought territory, a condition that often precedes a pullback or consolidation. Traders are watching for a possible reversal if the RSI crosses into overbought levels above 70.

Key resistance sits near the seven-month high, while support may form around recent breakout levels. The overall trend remains bullish in the short term, but caution is warranted given the overbought signal.