Forex - Chart USD/CHF Update: Extending losses in CHF-driven trade


 14:25 (GMT) 20 Jun

  [Forex Charts]

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Chart USD/CHF Update: Extending losses in CHF-driven trade (0101-MFXG-C01)

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Asterisk denotes strength of level

15:20 BST - No change in sentiment, with previously USD-driven losses giving way to CHF-driven losses. The 0.9836 Fibonacci retracement has been broken, with the dominant April bear trend now within reach of 0.9800. As prices extend lower, intraday readings become progressively more oversold, highlighting increased risk of reactions/corrective bounce. However, both daily and weekly charts are Negative, pointing to a later break below 0.9800 towards 0.9700/13. Resistance is lowered to 0.990. An unexpected close above here is needed to delay downside risks and prompt a cautious Upgrade.


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