Swiss Franc Breaks 2004 Level

Commentary: As expected, the USDCHF has plummeted. We wrote yesterday that “price could extend as low as the 161.8% extension of 1.1894-1.1599/1.1785 at 1.1308.”

Weakness has extended beyond there as the USDCHF has dropped below the 2004 low at 1.1287. The next potential support/bearish objective is the 1995 low at 1.1172.
Strategy: Flat (bearish objective hit at 1.1350)