Swiss Franc 20 day Average of Interest Under 9200
Prepared by Jamie Saettele, CMT
The USDCHF is at long term resistance from “the channel that extends off of the 2009 and 2011 lows (with the parallel extending from the 2010 high). This channel resistance is reinforced by pivots (both support and resistance) from December 2010 to April 2011.” This is clearly an important long term level, which would make a break above even more impressive. Until that break, beware of a turn lower.