EUR/CHF Classical 03.29
EUR/CHF: While the overall outlook remains highly bearish, we can not ignore a daily RSI which has remarkably 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. The market had finally broken below 1.4300 to fresh all-time lows and with this target finally breached, the timing for a major correction looks to be favorable. Aggressive players should look to build counter-trend longs at current levels.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.