Forex Trading: USD.CHF downtrend being tested

by Joe Oliver, Forex Trading-Pips

Forex Trading: The downtrend on USD.CHF is being tested with the down sloping trend line dating back to February this year coming under assault over the past 2 trading sessions. The USD has appreciated markedly against CHF following last Mondays inside bar breakout. On Friday Swiss bank UBS threatened to charge clients a fee on deposits, aiming to dissuade them from using accounts to store the ‘safe haven currency’.

Forex Trading, USD.CHF daily bars

Forex Trading, USD.CHF daily bars