EUR/CHF: Fresh record lows below 1.2900 have once again left daily studies oversold and in need of some major corrective relief. Any additional setbacks are seen limited, and the risks from here are for a more significant jump back towards previous support now turned resistance by 1.3165 over the coming days. Should the market hold above 1.2800 on a close basis, we could see the formation of a major double bottom on the daily chart.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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