USD/CHF slips to multi-year lows below 0.9120 on broad-based dollar sell-off. Technical indicators like the RSI suggest extreme oversold conditions. The USD/CHF pair fell to 0.9116 during Thursday’s Asian trading hours to hit the lowest level since May 2015. The pair has dropped by over 3.6% this month and is down over 5.6% on a year-to-date basis. With the Federal Reserve reiterating dovish bias on Wednesday, the doors remain open for a further decline in USD/CHF. However, we may see a minor corrective bounce as the 14-day relative strength index is reporting extreme oversold conditions. In addition, the 4-hour chart RSI is signaling a bullish divergence. As such, the pair may revisit the descending 50-hour simple moving average (SMA), currently at 0.9170. At press time., USD/CHF is trading at 0.9124. Daily chart Trend: Bearish but oversold Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia’s Victoria state to report more than 700 COVID-19 cases, 13 deaths -local media – Reuters FX Street 3 years USD/CHF slips to multi-year lows below 0.9120 on broad-based dollar sell-off. Technical indicators like the RSI suggest extreme oversold conditions. The USD/CHF pair fell to 0.9116 during Thursday's Asian trading hours to hit the lowest level since May 2015. The pair has dropped by over 3.6% this month and is down over 5.6% on a year-to-date basis. With the Federal Reserve reiterating dovish bias on Wednesday, the doors remain open for a further decline in USD/CHF. However, we may see a minor corrective bounce as the 14-day relative strength index is reporting extreme oversold conditions. In addition, the 4-hour chart… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
