Price action on EUR/CHF (a daily chart of which is shown) as of Wednesday (2/23/2011) has dropped down to key support in the 1.2800 price region. This occurs after a key uptrend support line extending from the early January low was broken down in mid-February. For more technical analysis on this currency pair, please click here for Wednesday’s (2/23/2011) Chart of the Day.
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I think the price on this pair will eventually retesting the previous major low at around 1.23933. Because it is simply in the major downward move and there is still no sign of weakening of the bear yet. What do you think?