| USD/CHF - Breakdown Below Support Posted: 15 Jun 2010 07:52 AM PDT  Price action on USD/CHF, a daily chart of which is shown, has just dropped below significant support in the key 1.1400 price region. In the process of this drop, price has also just approached a key uptrend support line extending from the mid-April low. This occurs after an extended consolidation within the last several weeks between the 1.1400 support and 1.1700 resistance price levels, and within the context of an overall uptrend in this currency pair. For more technical analysis on this currency pair, please click here for Tuesday’s (6/15/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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