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US Dollar / Swiss Franc 05-27

US Dollar / Swiss Franc 05-27

2010-05-27 14:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-05-27-CHF

With 5 waves up at multiple degrees of trend (from 10433 and 11265), the risk of a top and reversal is high. 11250 is initial support. Daily RSI is extreme at above 80, which also favors at least some consolidation. 11750 would be the next level of potential resistance.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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