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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.

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

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