The USD/CHF has continued its previous downtrend, moving below the all-time low for the pair set in October at 0.9559.
A channel has formed from the price action beginning in December and a price target may be estimated via the lower line of the channel.
Resistance comes in at last week’s low at 0.9500 followed by the high of today’s candlestick at 0.9560 and 0.9650.
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Russell Glaser is a Currency Analyst with ForexYard. Russell provides analysis in the FX spot market by employing fundamental research methodologies. In addition to currencies, Russell closely follows the correlation between the Commodities market and the movement of equities. His writings have been published on the ForexYard Trading Blog and associated partner sites. Prior to joining Forexyard, Russell Glaser served as a management consultant in the financial services industry, advising Fortune 100 companies. Russell holds a degree in finance from the Fisher College of Business at The Ohio State University.
