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USDCHF’s gains struggle within a sideways structure
USDCHF is currently tackling the 0.9767 high after finding some footing at the 0.9730 level, that being the 23.6% Fibonacci retracement of the up leg from the 56½-month low of 0.9182 to the three-month high of 0.9900, and the red Tenkan-sen line. Although the mostly flat and converging simple moving averages (SMAs) around 0.9700 continue to reflect the range-bound market that commenced around early April, the rising Ichimoku lines back the improvement from 0.9588. The short-term oscillators partly endorse advances for now. The MACD, in the positive zone, is increasing above its red trigger line, while the RSI hovers ... (full story)