Since the 0.9983 high, USD/CHF has printed its worst 10-day run since February. And with extreme positioning of the US dollar and Swiss franc, we think it has the potential to extend losses. We can see on the daily chart that USD/CHF has been confined to a 280-pip range since May, with a recent turn in momentum testing the range’s lower bound. The pair has struggled to garner bullish attention since its bearish pinbar at the 2018 high, and momentum since 0.9983 has only played into bearish hands. Last Tuesday saw a break of a retracement line and daily close confirmation of the 0.9867 low, which has since turned into ... (full story)