Swiss Franc Technical Outlook

[B]US Dollar / Swiss Franc[/B]

The USDCHF has surpassed our bearish expectations and broken below a long-standing uptrend line in the process. Price currently trades at relatively minor Fibonacci support at the 78.6 percent retracement of the 1.0360-1.1970 move, and further price floors don’t come into place until likewise minor swing-lows at 1.0610 and 1.0485. That being said, price remains very heavily oversold and price is at clear risk for noteworthy reversal. Yet it remains imprudent to buy into such overwhelming weakness.