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Thomas Long, Course Instructor

This 4-hour chart of the USD/CHF shows that this market had been trading between 1.07 and 1.03 for over a month. Those lows were broken this morning on a move down through 1.0300. The daily chart also shows a downtrend, so the chance of more selling pressure and lower lows just increased. The next potential support level is in the 1.0129 area last seen in January of this year.

USDCHF_body_64754d1282226493-chart-day-usdchf-819.png, USD/CHF

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.