USD/CHF Breaks Key Trendline Following Fed’s QE3 Announcement

Posted by on Sep 14, 2012

USD/CHF Daily Chart 9/14/2012 7:15APM EDT The Fed’s announcement of QE3 smacked the USD across the board. This reaction extended against most currency pairs. The USD/CHF’s reaction first tested a previously broken pivot at 0.9420 , where it found support, followed by a sharp decline that is now extending below a key rising trendline, seen more clearly in the weekly chart. In the daily chart above, you can seen bearish momentum developing as the RSI breaks below 30, and you can see price action
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