US Dollar May Test Major Low versus Swiss Franc
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Trade Implications – USDCHF: Our SSI-based trading strategies continue selling into US Dollar weakness across the board, and the USDCHF is no exception.
The key caveat with the Swiss Franc is simple: we’ll need to see a substantive break below recent lows to feel comfortable trading into further weakness. It has broken a key short-term rising trend channel, but key support remains at lows near SFr 0.8970.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.