Dollar Versus Swissy and Loonie June 7th

FX Strategy Video > Currency Pairs Analysis

The USD/CHF pair rose on Monday, but only to fall in the afternoon during US trading. Because of this, the pair formed a shooting star shaped candle at the bottom of the chart. This shows that perhaps the pair is about to make a new low. The next major target could be as low as 0.80 if we break lower. The USD/CAD pair bounced again on Monday, but still remains below a trend line and major resistance area in the form of 0.9850 or so. The pair is still bearish, but the recent action shows that we are in for a dogfight at these levels.

Published on 6th of June 2011
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