-
USDCHF extends retreat after sharp sell-off
USDCHF has been marching higher in the medium-term, creating a profound structure of higher highs and higher lows. However, in the last few sessions the pair has experienced a moderate pullback as the price dived beneath both its 50- and 200-day simple moving averages (SMAs). The recent retreat is likely to continue as the momentum indicators depict that negative momentum has strengthened. The stochastic oscillator is sloping downwards, while the RSI has flatlined in the negative area. Additionally, the price is currently trading far beneath the Ichimoku cloud. Should the selling pressure intensify further, immediate ... (full story)