USD/CHF Technical Analysis August 10, 2011

The USD/CHF pair fell hard on Tuesday, as the global markets have been out of control. The pair even went so low as to test 0.7050, and the trend is certainly intact after Tuesday’s action. However, we feel that the pair is oversold, and are looking for a rally to sell into in order to profit from the obvious downtrend. We are especially interested in selling near 0.75 if we get the chance.

Written by FX Empire