USD/CHF (daily chart) as of Friday (7/29/2011) has established yet a new all-time low, this time breaking below the 0.7900 level for the first time. This breakdown occurs within the context of a remarkably strong and technically-behaving long-term, medium-term, and short-term downtrend. This bearish trend, which has essentially been in place since the June 2010 high, has made progressively lower all-time lows and has adhered to key support/resistance levels and technical targets. After having just broken down below the 0.8000 psychological level and reached a key 261.8% Fibonacci extension target in uncharted ... (full story)