EUR/CHF Classical 03.23
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
If you wish to receive Joel's reports in a more timely fashion, e-mail email@example.com and you will be added to the "distribution" list.
If you wish to discus this topic or any other feel free to visit our Forum page
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.