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US Dollar May Test Major Low versus Swiss Franc

US Dollar May Test Major Low versus Swiss Franc

2013-10-17 15:00:00
David Rodriguez, Head of Product
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ssi_usd-chf_body_Picture_14.png, US Dollar May Test Major Low versus Swiss Franc

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USDCHFRetail forex traders continue buying into US Dollar weakness versus the Swiss Franc, and a contrarian view of crowd sentiment leaves us in favor of further USDCHF weakness.

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

ssi_usd-chf_body_Picture_19.png, US Dollar May Test Major Low versus Swiss Franc

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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