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Swiss Franc Former Trendline Back in Play

Swiss Franc Former Trendline Back in Play

2011-03-09 15:41:00
Jsaettele,
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Daily Bars

eliottWaves_usd-chf_2_body_usdchf.png, Swiss Franc Former Trendline Back in Play

Prepared by Jamie Saettele

Former trendline resistance is now acting as support. The opening range for the month in the USDCHF is 9201-9369. The break of this range will provide directional bias for the rest of the month. An upside break would see an immediate test of the 20 and 50 day averages while a downside break would shift focus to round figures such as 9100 and 9000.

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