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USDCHF driven by bears; next key support near 0.9320
USDCHF resumed negative momentum this week after failing to climb above the 61.8% Fibonacci retracement level of the March rally that started from the 0.9181 bottom. On the downside there is no key support in sight until 0.9320, hence the sell-off may continue for a bit, with the RSI and the MACD endorsing that bearish view as the former has yet to find a bottom in the oversold area and the latter is strengthening southward again. A break below 0.9320 would expose the market to the 0.9255 support area, which the price failed to successfully breach in March. Another step lower could see the retest of the almost ... (full story)