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USD/CHF Still Under Selling Pressure

USD/CHF Still Under Selling Pressure

Thomas Long, Course Instructor

In spite of closing higher on Friday, the USD/CHF did move down to print a new all-time low early in the session. This confirms the strong downtrend that began in June of 2010. This new weakness is partly due to the traders buying the USD/CHF in an uncertain environment, so further downside may be at least partly dependant on this factor. However, I would continue to look for sells as long as the pair remains below the .9702 high noted on the chart.

USDCHF_body_79453d1298838024-trend-day-usdchf.png, USD/CHF Still Under Selling Pressure

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

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