Swiss Franc Channel Confluence at 9300-9400
Prepared by Jamie Saettele, CMT
Look higher in the USDCHF as long as the short term bullish channel holds. Focus is on the long term channel resistance, which is at 9485 this week. Levels to keep in mind over the next few weeks are the April high at 9338 and 50% retracement of the decline from 11731, at 9399.
Trend Strength (M,W,D) – 0, 1, 1
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to firstname.lastname@example.org and follow hom on Twitter @JamieSaettele.
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