EUR/CHF:The market has come under some pressure over the past several days with setbacks extending into the 1.2700’s ahead of the latest minor bounce. However, with medium-term studies looking more constructive and showing the formation of a potential major base by record lows at 1.2400 from late 2010, we like the idea of buying into this dip from 1.3200 in anticipation of a higher platform by 1.2705. A close back above 1.2900 helps to confirm.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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