USD/CHF Classical 07.16
USD/CHF: The market continues to ignore severely oversold technical studies and has dropped to yet another multi-week low below 1.0435. This now opens the door for additional weakness and puts any hopes of recovery on hold. Next key support comes in by 1.0130, which guards against critical psychological barriers by 1.0000. For now bulls should only get optimistic on a break back above 1.0550.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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