The monthly chart for the USD/CHF shows a compelling story for further declines in the value of the pair.
Looking at the USD/CHF, a support line that runs from the March 2008 low to the all-time low in October has been breached. Should the pair close out the year below this line, further losses may be noted.
The pair is currently trading at an all-time low, therefore, support lines are absent from the charts. Traders may be targeting the daily chart’s lower channel line which comes in tomorrow at 0.9290.
Resistance for the pair is found at the monthly chart’s lower channel line which begins at the March 2008 low. Next month this price level is found at 0.9450. Further resistance is located at height of the December monthly candlestick at 1.0050.
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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.
