USD/CHF Still Under Selling Pressure

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.