FX Path

USD/CHF - Consolidation Breakdown to Key Support

Posted: 10 Sep 2009 09:27 AM PDT

Price action on USD/CHF has finally broken the sideways consolidation that has characterized the pair all the way since early June. The dollar drop that commenced right after the U.S. Labor Day this week, which was also reflected in the other major dollar-based currency pairs, has reached strong support in the 1.0370 price region. For more technical analysis on this currency pair, please click here for Thursday’s (9/10/2009) Chart of the Day.

- James Chen, CTA, CMT

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