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USD/CHF Still Bearish

USD/CHF Still Bearish

Thomas Long, Course Instructor

The USD/CHF is starting to move back down towards the .9300 area which is the all-time low for this pair. With the pair so close to that low and now moving down, to me that is a strong downtrend. There is an FOMC meeting today along with an announcement at about 215PM Eastern, so traders might be better off waiting until after this event before opening any new trades. However, I would look for selling opportunities as long as the pair remains below the .97834 high noted on the chart.

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