Swiss Franc Looking for Parity
09/09/2010 12:01 am EST
The Swiss franc is once again approaching near-parity. Longer term (months out), I am USD bullish but there is no evidence to suggest that the USD/CHF will find a bottom and reverse anytime soon.
At this point, it appears that 10130 will fail and lead to a drop below the 2009 low of 9916. That could complete a two-year correction from 12300. Channel resistance is at 10245.
By Jamie Saettele of DailyFX.comDailyFX provides forex news on the economic reports and political events that influence the currency market.