Chart of the Day – 11/11/2009 USD/CHF
(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; 50-period simple moving average in light blue.)11/11/2009 USD/CHF Price action on USD/CHF, a daily chart of which is shown, has dropped to within just a few pips shy of the 15-month low (1.0030) that was hit just a couple of weeks ago. This occurs within the context of a clear and continuing accelerated downtrend that has been in place for almost a year now. A strong breakdown below key support at the 15-month low, which is essentially in the region of parity for the pair (1 U.S. dollar to 1 Swiss franc), should lead to further bearishness. Wi