EUR/CHF: The drop has been quite impressive since breaking below 1.5000 in mid-December, with setbacks finally breaking down below the 1.4580 March 2009 lows to 1.4560, ahead of the latest minor bounce and consolidation. While we would not rule out the potential for continued depreciation back to the 1.4300, 2008 lows, daily studies can not be ignored at current levels, with the RSI crossing up from oversold and in need of additional corrective relief.
Joel Kruger
Technical Currency Strategist
DailyFX Research Team
www.dailyfx.com
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