USD/CHF Classical 03.08
USD/CHF: The latest break to fresh record lows by 0.9200 is certainly concerning and threatens our longer-term recovery outlook. Still, we do not see setbacks extending much further and continue to favor the formation of some form of a material base over the coming weeks in favor of an eventual break back above parity. From here, big figures become key support as we are in unchartered territory, while a daily close back above 0.9330 would help to encourage bullish reversal prospects.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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