EURCHF sellers continue to drive the pair down, pushing it back towards multi-year low levels. During October, buyers’ efforts were unsuccessful in breaching the capping 1.1064 resistance level, which is the 38.2% Fibonacci retracement of the down leg from 1.1475 to 1.0810, with the price eventually piercing below the simple moving averages (SMAs) and Ichimoku cloud. The technical indicators reflect increasing negative momentum. The MACD has distanced itself below its red trigger line, while the RSI is at the 30-level, [..]
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