Bearish price action on USD/CHF, a daily chart of which is shown, is approaching parity within the context of a steep, continuing downtrend. Parity (at 1 U.S. dollar to 1 Swiss franc) was last hit in July of 2008. Therefore, the long-term low from last week, which fell just shy of reaching parity, represented a 15-month low for the pair. For more technical analysis on this currency pair, please click here for Monday’s (10/26/2009) Chart of the Day.
- James Chen, CTA, CMT
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
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