USD/.CHF DROPPED 700 PIPS WITHIN 2 WEEKS FROM 1.1729 TO 1.1071 LAST CLOSE. The expected strengthening of Swiss Franc is partially due to the suspension of Swiss Central Bank (SNB)'S INTERVENTION , as eventually they(SNB) realize that it is beyond their MEANS to continue Defending the appreciation of the Swiss franc.( News indicated that they may have incurred losses in the region of over 10B Swiss Franc for the last six months of Intervention !)
Technicals are still showing extreme bearish on this currency pair which shall cross Both the level at 1.1036 (38.2% Fibo Retr From 0.9916(Low in Nov 2009) To 1.1729(Recent High) And level 1.0434 (Recent Low) .,Price Action Below 1.0434 shall expose 0.9900 level next.
Daily Chart
H1 with Guppy Trend Lines
Happy Trading
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