Chart of the Day: USD/CHF

Blake Morrow Forex Analytix

The USD/CHF Swissy slipped once again to the long term weekly trend line at the .9250 level. The daily RSI just went oversold, but the risk of a bounce near these levels may be high as the Swiss National Bank always seems to be "in the market" near these big levels of support. This is also the 88.6% Fibonacci support from the March lows to highs from this year.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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