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Swiss Franc Breaks Early January Pivot

Swiss Franc Breaks Early January Pivot

2012-01-23 22:05:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Breaks Early January Pivot

Prepared by Jamie Saettele, CMT

The USDCHF has dropped under the January low of 9304 and focus, negating the bullish bias and shifting focus to the 12/21 low at 9242 and the 11/30 low at 9065. An impulse (5 waves) from 9574 may be nearing completion. The implications are for a return to 9380. 9305/30 is interim resistance.

Bottom Line – flat

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