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EUR/CHF Classical 03.17

EUR/CHF Classical 03.17

2011-03-17 06:18:00
Joel Kruger, Technical Strategist
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EURCHF_Classical_body_eurchf2.png, EUR/CHF Classical 03.17

EUR/CHF:The latest sharp and intense pullback certainly threatens are longer-term basing outlook, but even with the drop, the 1.2400 record lows from late 2010 are still intact. While we would not rule out the possibility for a retest and break of this level over the coming sessions, and additional declines are seen limited, with the greater risk for a sharp upside reversal. For now however, a break back above 1.3040 will be required to officially alleviate downside pressures.

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

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