Forex Technical Update 8/31/2010 – Swiss Franc Hits Record High Against Euro

Forex Technical Update 8/31/2010

The EUR/USD had a sharp correction rally in the European session but did not invalidate the bearish swing outlook just yet. You can also see the Euro pare losses against the Yen, but the Japanese currency remains firm. The USD/JPY continues to decline. The Swiss franc
dominated the European session as the EUR/CHF is at an all-time low, and USD/CHF is at a 7-month low. The CHF also is also threatening to outperform the Japanese Yen as a safe haven currency.

Fan Yang CTA
Technical Analyst
www.fxtimes.com

Duration : 0:10:3

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