usd-chf

USD/CHF – We continue to retain a constructive outlook for the pair despite the underlying bearish trend with medium-term studies overextended and warning of a more meaningful corrective rally. While the latest pullback has matched the recent 2009 lows by 1.0030, this does not rule out the potential for a double bottom formation to be confirmed on an eventual break back above 1.0335. Ultimately, only back under 1.0030 would undermine our constructive outlook and put pressure back on downside.

ritten by Joel Kruger, Technical Currency Strategist for DailyFX.com
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