USDCHF is widely overbought at the intraday level. We expect an imminent retracement.
USDCHF is up more than 1% for the day, at 0.933. The pair is still up 2.3% on a weekly basis, as the market continues to price in the upcoming rate hikes from the FED.
The RSI is printing overbought values on all timeframes up to the H4, as the market is decelerating around the daily Percent Pivot of +1%.
We opened a short position in view of a retracement of the +0.5% Percent Pivot at 0.9280 usd.
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