USD/CHF Technical Analysis for May 3, 2011

The USD/CHF retested the lows today, bounced, and then promptly fell back to where it started. This only shows how much this pair is being sold off at the moment. Because of this, we cannot recommend buying for any reason at the moment. The pair looks like it is ready to break down again, and a break below the recent all-time lows would signal that. The pair bouncing all the way to 0.90 would also attract more sellers as well.

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