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Swiss Franc Support (USDCHF Resistance) from Monday Pivot

Swiss Franc Support (USDCHF Resistance) from Monday Pivot

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Support (USDCHF Resistance) from Monday Pivot

Prepared by Jamie Saettele, CMT

The USDCHF fell nearly 2% in January and the near term pattern is the exact inverse as the EURUSD. That is, the rally from the low is in 3 waves to this point which is corrective and leaves price vulnerable to additional losses towards the 11/30 low at 9065.

Bottom Line – flat

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