Swiss Franc Testing Important 8900 Level
Prepared by Jamie Saettele, CMT
Bigger picture, the USDCHF rally from the August low has that 5 wave look. While each wave might not be ‘perfect’ in its individual construction, the point is that a countertrend move should be expected. Perhaps one is underway from 9314. Currently testing the late September lows near 8900, a bounce would encounter resistance at 9120.
Trend Strength (M,W,D) – 0, 1, 0
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