T he last week, we wrote, “a passage under 0.9080 would then signal a beginning of a downward trend with larger first primary objective zone 8980 and 0.9020 then 0.8620 then with an extension” and USD-CHF has not managed to hold above 0.91. He then dived 0.90 to come on Friday night and ended on 0.8958.
The good news from Europe and US least favorable statistics have weighed heavily on the dollar last week. Then the long awaited release, between private creditors and the Greek government, has tilted the balance in 0.91 and the downward trend resumed its way.
Continue reading USD-CHF forex analysis for the week of Feb 27 to March 2,2012