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Swiss Franc Reaches 9300 – Resistance is Strong Here

Swiss Franc Reaches 9300 – Resistance is Strong Here

2011-10-06 15:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Reaches 9300 – Resistance is Strong Here

Prepared by Jamie Saettele, CMT

Focus remains on the long and short term channels this week as well as the March high of 9369 but the 9300-9400 zone is viewed as strong resistance. The USDCHF rally from the August low is nearing completion (in 5 waves) and I’m on the lookout for a top over the next few weeks (near mentioned levels…channels and mid 9300-9400).

Trend Strength (M,W,D) – 0, 1, 1

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