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USD/CHF Trades Below 2012 Low; a Chart Level is at .8847

By , Sr. Technical Strategist
23 October 2013 21:28 GMT

Weekly

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Trades Below 2012 Low; a Chart Level is at .8847

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-After trading into late August lows, the USDCHF reversed sharply and made an outside week.

-Price is once again below the line that extends off of the 2012 and January lows.

-Price has dipped below the 2012 low. There is an uncovered close from November 2011 at .8847.

-The post NFP spike low and 15 minute close at .8962/90 is resistance.

Trading Strategy: Flat

LEVELS: .8761 .8799 .8847 | .8965 .9000 .9044

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23 October 2013 21:28 GMT