Dollar Takes out February High against Franc

240 Minute Bars

Prepared by Jamie Saettele, CMT

The USDCHF has taken out 9263, which shifts focus to the 50% and 61.8% retracements of the decline from the January high. Those levels are 9342 and 9401. The former is reinforced by the 50 day average and the latter the 1/13 low. Structurally, the rally is probably a B wave within an A-B-C decline from the January high. Support is 9200/30.

Bottom Line – flat