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EUR/CHF Classical 03.23

EUR/CHF Classical 03.23

2010-03-23 06:35:00
Joel Kruger, Technical Strategist
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EUR/CHF: Monday’s setbacks have stalled just shy of the all-time lows at 1.4300 from 2008, with the market undergoing a minor corrective bounce thus far. While the overall outlook remains highly bearish, we can not ignore a daily RSI which has remarkably recently dipped below 10. Daily, weekly and monthly studies are all showing oversold and as such, we see the greater risk for a significant bounce back towards 1.4500 at a minimum, before even considering renewed weakness and bear trend resumption below 1.4300.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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