Price action on USD/CHF (a 4-hour chart of which is shown) as of Monday (3/07/2011) has continued its trading range consolidation within the context of a clear and strong bearish trend that has been in place for around a month. The current consolidation has prevailed for the last week and a half, with its upper border around key 0.9330 resistance and its lower border at the new all-time low at 0.9200. For more technical analysis on this currency pair, please click here for Monday’s (3/07/2011) Chart of the Day.
James Chen, CTA, CMT
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