USD/CHF Technical Analysis for July 29, 2011

The USD/CHF pair continued to tread water on Thursday as the markets are seemingly focused on only one thing right now: the US debt talks. As long as this thing plays out in a stalemate, the more likely we are to see this pair fall. Of course, the same can be said about it anyway – it is a wicked downtrend that has been intact for years now, and as such, we only sell this pair. We are looking for a bounce to sell, or a close below 0.8000 in which to short as well.

Written by FX Empire