Price action on USD/CHF, a daily chart of which is shown, has displayed strong bearishness in the last three weeks that highlights the recent dramatic strengthening of the Swiss franc. As of Monday (6/28/2010), price action has established a new 8-week low, and has descended all the way back down to the region of a key uptrend support line extending from the November 2009 low below parity. For more technical analysis on this currency pair, please click here for Monday’s (6/28/2010) Chart of the Day.
James Chen, CTA, CMT
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