USD/CHF: Just like the Euro, here too we are in the process of undergoing a short-term correction with the market finally closing back below the 10-Day SMA. While there is certainly scope for additional weakness over the coming sessions, look for a fresh higher low to carve out in the 1.0400-1.0500 area before a bullish resumption towards our medium-term objective at 1.1000.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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