USDCHF posted a sharp bearish rally in the previous days, driving the pair towards a fresh nine-month trough near 0.9695. The technical indicators are hovering in oversold levels suggesting a potential upside retracement. The MACD remains below the trigger line, while the RSI is trying to jump above the 30 level. Yet with the market action taking place well below moving averages, the pair may need extra time to correct the recent downtrend that started from the 1.0235 top. A possible upside correction could send the market towards the 0.9850 resistance, identified by the inside swing bottom on June 5. Above this ... (full story)