💱🔺FX Spot vs 100DMA: Crosses Pull Back From Highs/Lows

**As seen in Macro Walk report 06/18/2022, subscribe at cablefxm.co.uk/reports

• FX majors continue to pull back their respective advances when compared to the 100DMA differential seen a month ago. EURJPY, USDCAD, and EURGBP are the only crosses to show extensions above the prior month

• The differential is more evident in USD/CHF, the cross stood 6.13% above its 100DMA the prior month, now at 1.94%. The pullback came on the back of the SNB surprise rate hike, however, it was the second most extended major in our list after USD/JPY

• As of last week market close, dollar-yen and pound-dollar stand as the most extended crosses in our tracking list. GBP/USD -4.60% off its 100DMA, USD/JPY +7.08% off its 100DMA