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USD/CHF Within Striking Distance of All-Time Low

USD/CHF Within Striking Distance of All-Time Low

Thomas Long, Course Instructor

The USD/CHF is still trading less than 100 pips from the .9644 all-time low which confirms the downtrend. The current SSI reading is +4.10 which means that there are more than four open buy positions for every open sell position at FXCM. This is a contrarian indicator which means that the odds favor more downside for this pair. I would continue to look for sells as long as the pair remains below the 1.01823 high noted on the chart.

USDCHF_body_68897d1286202906-trend-day-usdchf-1004.png, USD/CHF Within Striking Distance of All-Time Low

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