EUR/CHF: The drop has been quite impressive since breaking below 1.5000 in mid-December, with setbacks finally breaking down below the 1.4580 March 2009 lows and into the mid-1.4500’s thus far. While we would not rule out the potential for continued depreciation back to the 1.4300, 2008 lows, daily studies can not be ignored at current levels, with the RSI well oversold and in need of corrective relief.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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